Ghana’s Parliament on Thursday ratified a Memorandum of Understanding covering the West Cape Three Points (WCTP) and Deepwater Tano (DWT) blocks, extending the agreements to December 31, 2040, despite objections raised by the Minority.
The WCTP and DWT blocks, operated by Tullow Ghana Limited, have key partners including Kosmos Energy, PetroSA, and the Ghana National Petroleum Corporation (GNPC).
Originally set to expire in 2034 (WCTP) and 2036 (DWT), the agreements have now been extended following a US$2 billion investment commitment to drill at least 10 and up to 20 new wells. The investment will also fund critical subsea infrastructure to sustain production from the Jubilee and Tweneboa–Enyenra–Ntomme (TEN) fields.
Government officials defended the extension as necessary to ensure continuity in upstream petroleum operations and maintain production in mature fields. They argued that retaining the current operators and contractual framework would help avoid disruptions from premature licence termination or changes in operatorship, while preserving institutional memory and minimizing transition risks.
During the parliamentary debate on Thursday, February 19, 2026, Minority Members of Parliament expressed concerns about approving the extension years ahead of the original expiry dates.
They warned that such early approvals could set a precedent encouraging other contractors to seek similar long-term security.
The Minority further argued that enough time remains to renegotiate terms closer to the existing expiration periods.
Parliament also approved the extension of a Master Gas Agreement involving the state, GNPC, and contractor parties.
The revised framework is expected to, among other things, reduce gas prices by 18%, increase gas supply from 100 mmscf/d to 130 mmscf/d, with potential for an additional 50 mmscf/d, and boost GNPC’s interest in each petroleum agreement by 10%.
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