Ghana’s Minister for Energy and Green Transition, John Abdulai Jinapor, has reaffirmed government’s commitment to restoring investor confidence in the upstream sector through sound policies, stable regulations, and a transparent investment climate.
The minister made this known during a discussion with executives of Chevron International Exploration and Production Limited on the sidelines of the African Energy Week 2025, currently underway at the Cape Town International Convention Centre (CTICC), South Africa.
The engagement, which focused on Ghana’s upstream petroleum sector, was led by Mr. Chris Jablonski, Director of Commercial at Chevron.
According to Minister Jinapor, the discussion highlighted strides made under President John Dramani Mahama’s leadership to promote transparency, attract investment, and strengthen governance in the sector.
“We also explored the significant role of natural gas in Ghana’s energy future, particularly how the country can maximise the value of gas produced by its upstream partners. I emphasised government’s strong commitment to reducing Ghana’s overreliance on liquid fossil fuels by prioritising gas as a cleaner, more cost-effective, and efficient energy source,” the minister stated in a Facebook post sighted by this portal.
Mr. Jablonski was accompanied by a high-level delegation including Gavin Lewis, Head of Chevron Exploration; Mamadou Blondin, Vice President for Middle East & Africa Corporate Affairs; and Chris Fordham, Business Development Manager.
“Together, we look forward to building stronger partnerships that support Ghana’s energy transition and long-term economic growth,” Minister Jinapor concluded.
The global push for a transition from fossil fuels to renewable energy, coupled with other factors, has negatively impacted investment in Ghana’s upstream petroleum sector. This has had an adverse effect on the country’s daily oil output, with production declining to about 107,000 barrels per day, down from over 200,000 barrels per day in 2019.
However, the decline in daily oil production is likely to be reversed following recent investment plans by Tullow Oil and Kosmos, which have committed $2 billion to drill 20 new wells under a new petroleum agreement with the Ghana National Petroleum Corporation (GNPC).
In addition, Italian oil and gas giant Eni has announced a $1.5 billion investment to boost oil production within the Offshore Cape Three Points block.
Source: https://energynewsafrica.com
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