Ghana has secured a $2 billion oil investment deal following high-level engagements with global energy giants aimed at boosting exploration in the country’s sedimentary basins.

The disclosure was made by the Minister for Energy and Green Transition, John Abdulai Jinapor, during the Government Accountability Series on July 16, 2025.

Jinapor stated that discussions with several international oil supermajors are ongoing and expressed optimism about achieving favorable outcomes.

“The government is actively engaging major international oil companies (IOCs) to promote Ghana’s sedimentary basins for exploration. Discussions are ongoing with supermajors, and the ministry is confident of positive resolutions,” he announced.

He further revealed that the government has secured new investments from partners in the Jubilee and TEN oil fields, which will support the drilling of 20 new wells and the development of associated infrastructure.

“As part of efforts to attract investment from existing exploration and production (E&P) companies in Ghana’s upstream petroleum sector, the government has created an enabling environment that has unlocked US$2 billion in investments from the Jubilee and TEN partners. This investment will fund the drilling of 20 new wells and related infrastructure over the license period,” he added.

The sector minister also announced that the government has approved the extension of the West Cape Three Points and Deep Water Tano petroleum agreements until 2040, as part of its long-term strategy to support sustainable hydrocarbon exploration.

“The government has approved the extension of the West Cape Three Points and Deep Water Tano petroleum agreements to 2040 to support sustainable hydrocarbon exploitation and ensure the recovery of new investments by the contractor parties, while delivering a fair share of revenue to Ghana,” he stated.

SP/MA

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