Eni, Partners and Ghana Seal Deal to Ghana’s Boost Energy Prospects
Ghana’s energy sector is set for a fresh injection of investment following the signing of a Memorandum of Intent between the Government of Ghana, Eni, Vitol, and the Ghana National Petroleum Corporation (GNPC).
The agreement, signed in the presence of President John Dramani Mahama, seeks to ramp up oil and gas production while introducing sustainable development initiatives.
The deal outlines plans to expand production from the Offshore Cape Three Points (OCTP) project by upgrading both offshore and onshore facilities to meet the country’s growing domestic energy demand. It also includes further exploration and development of the Eban-Akoma field in Cape Three Points Block 4, which was recently declared commercially viable. Officials say this will create an additional and timely source of energy for the national market.
Beyond oil and gas, the partners are also committing to initiatives that align with Ghana’s transition to cleaner energy. These include potential investments in renewable projects, as well as social programmes in education, clean water, health, and small business development. Over 10,000 Ghanaians have already benefited from Eni and its partners’ social investments, with a new phase set to broaden this reach.
Eni, which has been active in Ghana since 2009, currently produces about 34,000 barrels of oil equivalent per day. Since its launch in 2018, the OCTP project has delivered over 107 million barrels of oil and 480 billion cubic feet of gas, supplying about 70 percent of Ghana’s gas needs for power generation.
The new agreement signals a deepening partnership that not only focuses on expanding energy production but also on positioning Ghana as a hub for sustainable and inclusive growth.
