Ghana Energy Awards Kicks Off 10th Anniversary Activities With Visit To Energy Ministry
Ghana Energy Awards has officially launched activities marking its 10th Anniversary Edition with a high-level courtesy call on the Ministry of Energy and Green Transition, setting the tone for a landmark year for the prestigious industry recognition scheme.
The delegation was led by the Chief Executive Officer of the Awards Secretariat, Ing. Henry Teinor, and the Chairman of the Awarding Panel, Kwame Jantuah, Esq. Other members included Dr. Lawrence Tetteh and Dr. Jemima Nunoo.
The broader Awarding Panel also comprises H.E. Dr. Kwame Ampofo, Ghana’s Ambassador to the Hungary, and Prof. Felix Asante, Pro Vice-Chancellor of the University of Ghana, in charge of Research, Innovation and Development.
The team was received by the Deputy Minister of Energy and Green Transition, Hon. Richard Gyan-Mensah, on behalf of the Minister, Hon. John Abdulai Jinapor.
The meeting, held at the Ministry in Accra, marks the first in a series of activities lined up to commemorate the Awards’ 10th anniversary. Since 2017, the scheme has recognised excellence and innovation across Ghana’s energy value chain.
Among the key items discussed was the formal presentation of the Site Visitation Report from the 9th Ghana Energy Awards, alongside deliberations on theme selection and the roadmap for the 10th Edition. The delegation also exchanged perspectives with the Ministry on strategic priorities for 2026 and areas for collaboration.
Independent Assessment to Support Oversight
Presenting the Site Visitation Report, the Chairman of the Awarding Panel, Kwame Jantuah, Esq., underscored the importance of the exercise as an independent technical assessment of selected project sites visited during last year’s awards process.
“The Site Visitation Report provides an independent, expert assessment of operational sites and projects reviewed by the Panel,” he said. “We believe this document can serve as a useful reference point to support policy refinement and strengthen the Ministry’s oversight responsibilities across the sector.”
He noted that the Awards’ structured evaluation process, including site visits and technical reviews, reinforces credibility and provides actionable insights for both regulators and operators.
Commitment to Excellence
Chief Executive Officer of the Awards Secretariat, Ing. Henry Teinor, reiterated the scheme’s commitment to promoting excellence and strengthening the sector’s long-term development.
“As we mark our 10th anniversary, we remain committed to championing operational excellence, innovation, and good governance within Ghana’s energy sector,” he said. “This anniversary is a renewed pledge to support the advancement of the sector in alignment with national priorities.”
He described the courtesy call as the formal opening of a broader calendar of anniversary activities, including stakeholder engagements, policy dialogues, and commemorative events leading up to the awards ceremony later in the year.
Ministry Reaffirms Strategic Priorities
Deputy Minister Richard Gyan-Mensah commended the execution of the 9th Edition of the Awards and welcomed the roadmap shared for the 10th anniversary.
“The Ministry acknowledges the strategic role the Ghana Energy Awards continues to play in highlighting performance and encouraging healthy competition within the sector,” he said. “The 9th Edition was well executed, and with the roadmap presented, we expect an even more impactful 10th Anniversary celebration.”
He reiterated the Ministry’s openness to collaborative initiatives that align with the government’s broader energy vision.
“We remain open to partnerships that help advance the government’s objectives for the sector and inspire industry players to give their best, champion excellence, and pursue innovation,” he added.
Outlining the Ministry’s key objectives for 2026, Gyan-Mensah disclosed that the government is working “around the clock” to ensure Ghana achieves a 90% electricity access rate by the end of the year.
He further highlighted Ghana’s recent ratification of a $2 billion agreement extending the Jubilee and TEN oilfield licences to 2040. The deal, approved in February 2026 and involving Tullow Oil, Kosmos Energy, PetroSA, and the Ghana National Petroleum Corporation (GNPC), secures investment for up to 20 new wells aimed at boosting production. It also increases GNPC’s stake by 10% from 2036 and is expected to enhance domestic gas supply for power generation.
The Deputy Minister added that Ghana has reached an agreement with Nigeria to increase gas supply to support power generation, while discussions are ongoing regarding the country’s nuclear energy pathway, including whether to pursue small modular reactors or large-scale nuclear facilities.
He also disclosed renewed efforts to ensure malfunctioning streetlights are fixed nationwide to improve public lighting and safety.
The 10th Ghana Energy Awards is expected to reflect a decade of recognising industry leadership and impact. Further details on anniversary activities, stakeholder engagements, and the official theme for the 10th Edition will be announced in the coming weeks.
US Forces Seize Third Sanctioned Oil Tanker In Indian Ocean
U.S. military forces have seized a sanctioned oil tanker in the Indian Ocean after tracking it from Caribbean waters, the United States Department of Defense said on Tuesday, adding that it was the third such interdiction in the region, according to a report by Reuters.
Since the capture of Venezuelan President Nicolás Maduro in a military raid last month in Caracas, Washington has escalated its blockade on vessels under sanctions travelling to and from the South American country, a member of Organization of the Petroleum Exporting Countries (OPEC).
In a post on X, the Pentagon said U.S. forces boarded the Bertha overnight.
It accused the crude oil tanker of attempting to defy Iran-related sanctions.
The Bertha, which flies under a Cook Islands flag, is linked to Shanghai Legendary Ship Management Company Limited and falls under sanctions imposed in January 2020, according to the Office of Foreign Assets Control of the United States Department of the Treasury.
The ship management company could not immediately be reached for comment.
The vessel’s last reported position on AIS ship-tracking systems was on February 24, sailing in the Indian Ocean off the Maldives, according to MarineTraffic data.
“Overnight, U.S. forces conducted a right-of-visit, maritime interdiction, and boarding of the Bertha without incident in the INDOPACOM area of responsibility. The vessel was operating in defiance of President Donald Trump’s established quarantine of sanctioned vessels in the Caribbean and attempted to evade,” the Pentagon said.
“From the Caribbean to the Indian Ocean, we tracked it and stopped it.
“Three boats ran and now all three have been captured,” it added, without providing further details.
The Bertha departed Venezuelan waters in early January as part of a flotilla that has now been almost entirely seized by U.S. forces. The ship was carrying about 1.9 million barrels of Merey heavy crude bound for China, according to shipping reports from Venezuelan state oil company Petróleos de Venezuela S.A. (PDVSA).
Earlier this month, U.S. Defense Secretary Pete Hegseth said American forces had boarded the Suezmax tanker Aquila II in the Indian Ocean. That action was followed by the seizure of the Veronica III.
The vessels seized in recent months have either been under U.S. sanctions or part of a “shadow fleet” of ships that disguise their origins to transport oil from heavily sanctioned producers, including Iran, Russia, and Venezuela.
U.S. forces have intercepted 10 tankers since December, including the latest seizure, and have released at least two of them back to the new Venezuelan government, according to Reuters’ analysis.
“International waters are not a refuge for sanctioned actors. By land, air, or sea, our forces will find you and deliver justice,” the Pentagon said.
Moscow Reroutes Oil To China On Largest Vessels After India Slowdown
The surge in Russian crude sales in China and the simultaneous drop in Indian demand for Russia’s oil have prompted Moscow to turn to using a larger fleet of supertankers—vessels capable of carrying 2 million barrels of crude.
In recent weeks, several smaller tankers that left Russia’s Western ports transferred their cargoes to supertankers, the so-called very large crude carriers (VLCCs), in the Red Sea and then traveled to China instead of India, Bloomberg reported on Tuesday, citing ship-tracking data from Vortexa and Kpler.
The Red Sea hasn’t been known as a major ship-to-ship (STS) transfer site but necessity has apparently prompted Russia to use the area, in view of increased scrutiny offshore Malta and Greece in the Mediterranean, and the growing presence of U.S. military in the Middle East.
The supertankers can also hold more barrels, if Russia’s crude needs to stay in floating storage for a period of time waiting for buyers to emerge, Bloomberg notes.
The shift toward bigger vessels highlights the growing importance of China as Russia’s key crude export market and the diminishing role India could play in buying Russian oil going forward.
A jump in China’s crude oil imports from Russia is more than compensating the withdrawal of the Indian refiners from spot Russian purchases, tanker-tracking data compiled by Bloomberg showed last week.
Up to February 18, deliveries of Russia-origin cargoes at Chinese ports averaged 2.09 million barrels per day (bpd) for the month, up from an average of 1.72 million bpd in the full month of January and 1.39 million for December, the data showed.
Earlier this month, data from Vortexa and Kpler showed that China’s oil imports from Russia are on track for all-time high of more than 2 million bpd this month as India is withdrawing from Russian spot purchases and supply is now heavily discounted for Chinese independent refiners.
Tanzania Commissions Landmark Kishapu Solar Power Project, Set To Inject 50MW Into National Grid By March 1
Tanzania has commissioned the country’s first large-scale solar photovoltaic project in Kishapu District, located in the northwestern Shinyanga Region, marking a milestone in the East African nation’s energy transformation agenda.
The project will inject 50 megawatts of power into the national grid by March 1, 2026.
The facility was executed by the Tanzania Electric Supply Company Limited (TANESCO) through a partnership between the Tanzania and the Agence Française de Développement (AFD) at a cost of TSh 118 billion ($45,953,144.15).
It is expected to strengthen power supply reliability, particularly across the Lake Zone regions, marking a significant step in Tanzania’s renewable energy expansion strategy.
Speaking during a site inspection on Saturday, February 21, 2026, TANESCO’s Chief Executive Officer, Lazaro Twange, said the completion of the project demonstrates the government’s consistent commitment to expanding access to reliable electricity services for Tanzanians.
“This is a new chapter being written in our country’s history. Since independence, we have never had a solar project of this scale. The government, through the Ministry of Energy and TANESCO, has made history, and today you have witnessed electricity being generated,” Mr. Twange told the gathering.
He described the project as a landmark development and the first solar facility of such magnitude since independence.
Peter Masindi, the Kishapu District Commissioner, said the solar plant would serve as a catalyst for local economic growth, particularly benefiting young people engaged in mining and agriculture.
The Acting Plant Manager, Mariana Mrosso, added that the facility will enhance grid stability and improve electricity quality for consumers, especially in Tanzania’s Lake Zone.
Ghana: There Is No Load Shedding, Ongoing Maintenance Is To Ensure Supply Reliability – Energy Ministry
Ghana’s Ministry of Energy and Green Transition has dismissed claims that the country is rationing electricity, insisting that Ghana’s power generation capacity remains stable despite recent outages in some communities.
According to the ministry, the energy sector is currently more stable than what the government inherited.
Speaking on Accra-based Citi FM’s Eyewitness News on Monday, February 23, Richmond Rockson, Spokesperson and Head of Communications at the ministry, said the government has not engaged in load shedding over the past 10 to 11 months.
He explained that although the current administration inherited a power generation deficit of about 700 megawatts in December 2024, the shortfall has since been addressed.
“As a government, we have not been shedding load over the past 10 to 11 months. Our generation capacity has been enhanced. What we are doing as a government is that even though we took over a deficit of 700 megawatts in December 2024, that has been overturned. We’ve managed to ensure that our generation capacity is intact,” he stated.
Mr. Rockson acknowledged that some communities have experienced recent power challenges but stressed that the issues are area-specific and not a result of insufficient generation.
He mentioned Achimota, Dodowa, parts of Akweteyman, Tesano, and Adenta as some of the areas that recorded temporary disruptions in recent days.
According to him, many of the challenges in these communities have largely been resolved, and residents should expect a stable power supply going forward.
“We’ve recognised that there have been a number of issues over the last few days, and those issues are area-specific. As a ministry, we’ve taken notice that areas like Achimota have had some issues. Dodowa has had some issues, parts of Akweteyman, Tesano in the last couple of days—and let me add Adenta to it. The good news is that these challenges have largely been resolved in some of these areas, and so we expect that residents there will have stable power supply,” Mr. Rockson said.
The ministry maintains that the recent interruptions are linked to maintenance and localised technical issues rather than a return to nationwide load shedding.
Nigeria: Customs Seizes Over 159,000 Litres Of Smuggled Fuel
The Nigeria Customs Service has handed over three fuel tankers containing no fewer than 159,000 litres of petrol intercepted recently to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for further action.
Deputy Comptroller Abubakar Aliyu, National Coordinator of Operation Whirlwind, performed the handover on Friday in Lagos. He described the seizure as a major breakthrough in the fight against fuel smuggling.
He said the tankers were intercepted along notorious smuggling corridors, including Aso-Odo, Seme, Owode-Apa and Badagry.
“Customs is handing over the seized fuel tankers with registration numbers T21019LA, T9827LA and T3546LA, containing over 159,000 litres, for appropriate sanctions,” he said.
He added that 1,630 jerry cans of petrol intercepted during the operation would be auctioned to the public to ensure transparency and accountability.
“The total Duty Paid Value of the 1,630 jerry cans of PMS is about N40.75 million.
“The interception was intelligence-driven and reflects our uncompromising resolve to safeguard Nigeria’s economic and energy security,” he said.
Mr Aliyu stressed that Operation Whirlwind targets economic sabotage and illicit trade, insisting that strict compliance with petroleum regulations is non-negotiable.
He noted that petroleum transportation is governed by clear regulatory frameworks and Standard Operating Procedures designed to prevent diversion and smuggling. According to him, such illegal activities undermine government policy, distort market stability and deprive the nation of critical revenue.
He described the Owode-Apa, Seme and Badagry border corridors as sensitive economic arteries historically exploited for cross-border petroleum smuggling.
“Under my watch, smuggling will no longer be safe for economic saboteurs,” Aliyu warned.
He said the handover reflected strong inter-agency collaboration in line with established operational frameworks.
Mr Aliyu commended the Comptroller-General of Customs, Bashir Adeniyi, for his leadership and support for anti-smuggling operations.
He urged Nigerians to support enforcement agencies, saying national development thrives when citizens and authorities work together.
In her remarks, Grace Dauda of the NMDPRA reaffirmed the agency’s mandate to ensure petroleum products meant for domestic use are not diverted abroad.
“It is unfortunate that some businessmen attempt to smuggle petroleum products out of the country,” she said.
Mrs Dauda urged the public to collaborate with government agencies to end economic sabotage.
Gambia: NAWEC To Ration Power As Ramadan And Lent Seasons Drive Up Electricity Demand
The National Water and Electricity Company (NAWEC) has announced minimal load shedding across The Gambia due to increased electricity demand during this year’s Ramadan and Lenten seasons.
The company said the measure has become necessary to maintain the stability of the national power system.
In a statement, NAWEC acknowledged the importance of the period for families, worship centres, and communities across the country.
The statement added that a daily load-shedding roster would be published from Wednesday, February 24, 2026, to enable customers to plan their activities accordingly.
NAWEC also sincerely apologised for any inconvenience that may arise during these sacred observances and expressed appreciation for the public’s patience and understanding.
Nigeria: Kano Electricity Distribution Company Invests ₦500 Million To Boost Power Supply In Katsina
The Kano Electricity Distribution Company (KEDCO), one of the power distribution companies in the Federal Republic of Nigeria, is investing ₦500 million to revive the IBB Way Injection Substation and other critical power infrastructure in Katsina.
The investment forms part of a strategic move aimed at boosting supply capacity, improving network stability, and delivering more reliable power to customers across the Katsina metropolis.
Since the acquisition of KEDCO by Future Energies Africa (FEA) in 2024, the company has consistently implemented a special annual Ramadan intervention programme.
This initiative includes redirecting and boosting electricity supply to residential areas by up to 20 percent throughout the holy month, with further improvements typically recorded during the Eid celebration period.
In a statement issued by Sani Bala Sani, Head of Corporate Communication, the company attributed the recent power supply challenges experienced across Kano, Katsina, and Jigawa State largely to failures on the national grid.
The two transmission lines supplying bulk power from Shiroro to these states were affected, resulting in temporary backfeeding from Jos.
KEDCO promptly raised concerns with the Honourable Minister of Power and the Nigerian Electricity Regulatory Commission (NERC).
“We are pleased to report that one of the affected lines has now been restored, leading to noticeable improvements in power supply across the region,” the statement said.
The statement added that other challenges, including a recent fire incident involving a 15MVA TR3 power transformer at the IBB Way Injection Substation, had impeded efforts to provide reliable electricity.
As an interim measure to prevent a total blackout for affected customers, the 11kV GRA feeder was merged with the 11kV Army Barracks and 11kV Low-Cost feeders to ensure continued, though limited, power supply while the damaged transformer is being repaired under the project.
For the Ramadan period, with the partial restoration of the Shiroro–Kaduna transmission line and firm supply increase commitments already secured, residents can expect improved electricity availability throughout the holy month.
KEDCO expressed deep appreciation to His Excellency, the Governor of Katsina State, Dikko Umaru Radda, and his administration, particularly the Special Adviser on Power and Energy, Hafiz Ibrahim Ahmed, for their unwavering commitment and proactive engagement toward improving electricity supply.
KEDCO reassured residents of its continued partnership with the Katsina State Government to ensure sustainable power supply during Ramadan and beyond.
Ghana: Sunon Asogli Unveils 850MW Thermal, 200MW Solar PV, And 100MW Wind Power Plan In Greater Accra And Northern Regions
Sunon Asogli Power Ghana Limited, the largest independent power generation company in the Republic of Ghana, is set to commence major energy projects in Greater Accra Region and the northern part of the country as part of its expansion drive.
The company currently operates a 560MW combined-cycle power plant located in Kpone, near Tema.
Speaking at the celebration of the Chinese New Year — the Year of the Horse — at Kpone, Co-founder and President of Sunon Asogli Power Ghana Limited, Togbe Afede XIV, said Asogli Power has acquired four sites in the north for the development of solar projects, with an initial target of 200MW.
He further revealed that land has been secured for a 100–200MW wind farm in Sege in the Ada West District, as well as plans to expand the current plant with an additional 850MW.
He told this portal that the company would soon sign a Power Purchase Agreement (PPA) with the Electricity Company of Ghana to kick-start construction.
He added that the company is encouraged by the stability John Mahama’s government has brought to the economy and asked for the Vice President’s assistance “as we strive to support Ghana’s growth ambitions and energy transition plans.”
He continued: “…we want to be an integral part of Ghana’s economic success and support the Big Push, the 24-Hour Economy, and other exciting government initiatives.”
Sunon Asogli Power Ghana Limited is a joint venture between Shenzhen Energy Group and the China Africa Development Fund.
The first phase of the power plant was completed in 2010, and the second phase, with an installed capacity of 360MW, was commercialised in 2017.
Togbe Afede commended Ghana’s economic stability under President John Mahama’s administration, noting that renewed investor confidence has strengthened the country’s economic outlook.
He cited recent visits by top officials from Guangdong Province — home of Shenzhen Energy Group — as well as Madam Liu, the first female Deputy CEO of Shenzhen Energy, as clear endorsements of Ghana’s positive trajectory.
“As resilience and growth come, there will be increased energy demand. We want to ask you to assist us as we strive to support Ghana in this ambition to grow the energy sector, especially in the transition towards renewables,” he appealed.
He added that just as Shenzhen Energy Group played a key role in transforming Shenzhen and Guangdong Province into global economic powerhouses, Sunon Asogli aims to be an integral part of Ghana’s economic success, supporting flagship initiatives such as the 24-hour economy policy.
The colourful celebration blended business and culture, reinforcing both the commercial partnership and people-to-people ties between Ghana and China, as participants ushered in the Lunar New Year with renewed optimism for expanded cooperation in the energy sector.
Liberia: LEC Recovers 5MW From Illegal Power Connections
The Liberia Electricity Corporation (LEC), the state-owned power generation and Distribution Company, has recovered approximately 5 megawatts (MW) of illegally consumed electricity through its ongoing nationwide anti-power theft campaign dubbed “Operation Sweep.”
The day-and-night operation has enabled LEC teams to visit industrial facilities and residential communities across the country.
The exercise has resulted in the removal of illegally connected meters, unauthorized electrical cables, and other fraudulent power connections.
Authorities confirmed that several individuals have been arrested during the crackdown.
Some offenders have been prosecuted and sentenced to jail terms, while others are paying thousands of dollars in recovery and penalty fees.
Located in West Africa, Liberia has a population of more than 5.8 million people. The country’s total installed power generation capacity is approximately 126 megawatts, meaning the recovery of 5MW represents a significant portion of available supply.
Electricity access in Liberia remains limited, with the national access rate currently estimated at about 33 percent.
The government and its partners are working to expand generation, transmission, and distribution infrastructure to improve nationwide access and reliability.
Liberia’s power sector was severely damaged during the country’s civil wars (1989–2003), leaving much of the infrastructure destroyed.
In the post-war period, LEC has been rebuilding the system, including the rehabilitation of the Mount Coffee Hydropower Plant and expansion of thermal generation capacity.
Power theft remains a major challenge for the utility, contributing to financial losses, system overload, and unreliable supply. Officials at LEC have vowed to intensify enforcement efforts to ensure that individuals and businesses using electricity illegally are held accountable.
Nigeria: NNPC Ltd, Dangote Group Forge Strategic Alliance To Boost Nigeria’s Energy Security
Africa’s largest petroleum refinery, the Dangote Refinery, and Nigeria National Petroleum Company Limited (NNPC Ltd) have renewed their commitment to a strategic partnership aimed at strengthening Nigeria’s energy security and economic prosperity.
The renewed collaboration followed high-level discussions during a visit by an NNPC Ltd delegation to the refinery facility.
The delegation was led by the Group Chief Executive, Engr. Bashir Ojulari, and included a comprehensive tour of the 650,000 barrels-per-day refinery.
Engr. Ojulari praised the President of Dangote Group, Aliko Dangote, for his vision and resilience in delivering the massive refinery project, which positions Nigeria as a key downstream hub in Africa.
Describing the partnership as transformational, Engr. Ojulari said the alliance would “unlock synergies across assets, infrastructure, capital, and markets,” while enhancing transparency and coordination in NNPC-Dangote business relations. He also highlighted opportunities for expansion into upstream operations, trading, shipping, and gas supply.
The NNPC chief further commended Bola Ahmed Tinubu for providing policy clarity and investor-friendly reforms that have strengthened confidence in Nigeria’s oil and gas sector.
Aliko Dangote emphasized that Nigerians would be the ultimate beneficiaries of the partnership, noting that the collaboration would deliver economies of scale and unlock value across markets.
NNPC Ltd currently holds a 7.25 percent stake in the Dangote Refinery — a strategic investment aligned with its downstream growth objectives and commitment to expanding domestic refining capacity.
Both organizations reaffirmed their commitment to deepening cooperation to ensure energy security, stimulate industrial growth, and create sustainable value for Nigerians.
Ghana: Disregard Claims Of Impending LPG Shortage – NPA Tells Consumers
Ghana’s petroleum downstream regulator, the National Petroleum Authority (NPA), has urged the public to disregard media commentary suggesting an imminent shortage of Liquefied Petroleum Gas (LPG) and has assured consumers that there is adequate stock to meet demand.
In a press release dated Friday, February 20, 2026, the Authority said it had taken note of publications referencing comments by the Chief Executive of the Chamber of Oil Marketing Companies, Dr Riverson Oppong, who reportedly advised the public to fill their cylinders in anticipation of a possible gas shortage.
The NPA, however, maintained that there is no basis for panic buying.
“The NPA wishes to assure the general public that there is enough LPG in stock to meet demand. The country currently has LPG stock covering over one month of consumption, with production by local refineries at its highest level.
“Additionally, as per the national import plan, the country is expected to take delivery of an LPG cargo within the next two weeks to further shore up existing stock levels and keep the market well supplied. Consumers are hereby advised to desist from panic buying and rest assured that there is no impending shortage of LPG in Ghana,” part of the statement read.
Earlier this week, the Chamber of Oil Marketing Companies (COMAC) and the Chamber of Bulk Oil Distributors (CBOD) raised serious concerns over what they described as the unlawful diversion of funds from the LPG Fund to the Ghana Cylinder Manufacturing Company (GCMC), a state-owned entity.
According to the two industry bodies, the action constitutes a “flagrant breach of statutory mandate, a dangerous sabotage of national energy policy, and an unacceptable betrayal of public trust.”
The LPG Fund was established under Legislative Instruments (LI) 2262 (as amended) and LI 2481 and was implemented by the National Petroleum Authority (NPA) on April 1, 2024.
The Fund has three explicit and legally binding objectives, including the imposition of a $44 per metric tonne (MT) Bottling Plant Margin and a $36 per MT Cylinder Investment Margin.
These levies are intended to finance the construction and operation of LPG bottling plants nationwide and to support the rollout of the Cylinder Recirculation Model (CRM), aimed at ensuring safe and efficient LPG distribution.
In a joint statement, CBOD and COMAC stressed that the LPG Fund was never intended to serve as discretionary capital for ad hoc allocations.
Ghana: Tullow Signs $205million Deal To Acquire TEN FPSO
Africa-focused independent oil and gas firm Tullow Oil has signed a sale and purchase agreement to acquire the floating production, storage and offloading (FPSO) vessel serving the TEN fields on the Deepwater Tano Block offshore Ghana, in a move aimed at reducing costs and improving long-term field economics.
The agreement, executed by Tullow Ghana Limited on behalf of the TEN Joint Venture, provides for the acquisition of the FPSO Prof. John Evans Atta Mills for a gross consideration of $205 million, equivalent to approximately $125.6 million net to Tullow.
Completion is expected at the end of the first quarter of 2027, subject to regulatory approvals and customary conditions.
The FPSO is the production facility for the TEN fields, where Tullow is operator alongside partners Ghana National Petroleum Corporation (GNPC), GNPC Explorco, Kosmos Energy, and PetroSA.
Tullow said the acquisition will eliminate annual lease payments and lower fixed operating costs at TEN, supporting improved free cash flow beyond 2027. The company expects to fund its share of the purchase price from in-year cash flow generated by the TEN asset.
The transaction is also expected to enhance operational synergies with the nearby Jubilee Field, where Tullow is co-operator, as the partnership continues to advance long-term development plans offshore Ghana.
Company executives described the FPSO purchase as part of Tullow’s broader strategy to optimise production, strengthen asset economics, and extend the economic life of its West African offshore portfolio.
The FPSO transaction follows recent developments across the TEN and Jubilee partnership. Earlier this week, Ghana’s Parliament ratified licence extensions for the Jubilee and TEN fields through 2040, alongside ongoing drilling activities and production growth across the assets.
Ghana: Energy Minister Meets Cenpower To Strengthen Power Sector Collaboration
Ghana’s Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, earlier this week met with officials of Cenpower Generation Company Limited, one of Ghana’s leading independent power producers, in Accra.
The company operates a 350MW combined-cycle power plant located in Kpone, near Tema in the Greater Accra Region.
The meeting focused on recent developments within the power sector and explored opportunities for sustained collaboration in support of President John Dramani Mahama’s energy agenda.
During the discussions, Dr. Jinapor outlined the government’s vision to ensure a reliable and sustainable power supply across the country. He emphasised the importance of maintaining strict fiscal discipline while safeguarding the long-term viability of the energy sector.
Both parties described the engagement as constructive and forward-looking, reaffirming their commitment to strengthening partnerships aimed at enhancing power generation and sector stability.
Dr. Jinapor also reiterated his commitment to continued engagement with key industry stakeholders as part of broader efforts to secure Ghana’s energy future.