Ghana Signs MoUs With Eni, Vitol For Two Offshore Oil Blocks

Ghana on Thursday signed two memoranda of understanding (MoUs) with Eni Ghana, Vitol Upstream Tano Ltd and the Ghana National Petroleum Corporation (GNPC) covering offshore acreages GH WB 3 and GH WB 8 in the Tano Basin, the energy ministry said in a statement.

The MoUs were signed on behalf of the government by Energy and Green Transition Minister John Abdulai Jinapor.

Representatives of Eni Ghana, Vitol Upstream Tano Ltd and GNPC also signed the agreements on behalf of their respective institutions.

The agreements are part of efforts to unlock Ghana’s remaining hydrocarbon potential and attract fresh investment into the upstream sector, the ministry said.

The two blocks cover about 2,100 square kilometres, with water depths ranging from 750 metres to 2,800 metres.

The MoUs build on a memorandum of intent signed in 2025 that proposed an investment of $1.5 billion, the ministry said.

The government said the latest development forms part of reforms being pursued under President John Dramani Mahama to create a more competitive, predictable and investment-friendly petroleum sector while ensuring the responsible development of the country’s natural resources.

The proximity of the two acreages to existing producing fields and petroleum infrastructure is expected to allow investors to leverage Ghana’s established upstream ecosystem as exploration progresses, the ministry said.

The government will continue to pursue reforms aimed at attracting investment and accelerating exploration and production while ensuring Ghana secures maximum and sustainable value from its hydrocarbon resources, it said.