Ghana woos upstream oil investors, citing Shell-Chevron deal
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Ghana is stepping up efforts to attract fresh investment into its upstream petroleum sector as the government seeks to unlock greater value from the country’s oil and gas resources.
Energy and Green Transition Minister, Dr John Abdulai Jinapor, says government is encouraged by renewed investor interest in Ghana’s petroleum industry and is determined to sustain the momentum.
Speaking at Ghana Day at Africa Oil Week 2026, Dr Jinapor pointed to a recent agreement involving the government, Shell Overseas Holding Limited, Chevron Sub Saharan African Ventures Ltd. and GNPC Exploration and Production Limited as a significant signal of confidence in Ghana’s upstream potential.
The Memorandum of Understanding covers the acquisition of petroleum exploration and production rights over the South Deepwater Tano Cape Three Points Block.
According to the Minister, the agreement demonstrates the potential of partnerships between government, international oil companies and the Ghana National Petroleum Corporation to unlock new opportunities in the upstream sector.
He says government wants to replicate such partnerships as it works to revitalise the industry and position petroleum as a stronger driver of economic growth, energy security and job creation.
“Ghana is open for investment, we are improving the environment for investors, and we are ready to work with partners who share our vision of creating lasting value,” Dr Jinapor said.
Government seeks to revive upstream sector
The government’s renewed focus on upstream investment comes as Ghana seeks to maximise the economic benefits of its petroleum resources while attracting the capital and technical expertise required to explore and develop new fields.
The South Deepwater Tano Cape Three Points agreement is therefore being positioned as more than a commercial arrangement, with government viewing it as a demonstration of its strategy to deepen international participation in Ghana’s petroleum industry.
Dr Jinapor says partnerships that bring together international expertise, capital and local participation will be critical to unlocking the next phase of growth in Ghana’s upstream petroleum industry.
The government is consequently positioning the sector to attract more long-term investment, with the broader objective of increasing petroleum revenues, creating jobs and strengthening Ghana’s energy security.
Tags: Energy minister Ghana News Shell-Chevron upstream petroleum
