Ghana has taken a major step toward strengthening its energy security after signing a key agreement to advance the OCTP gas expansion Ghana project.
The Minister for Energy and Green Transition, John Jinapor, alongside Finance Minister Cassiel Ato Forson, led the signing of a term sheet with Eni Ghana Exploration & Production, Vitol Upstream Ghana Limited, and Ghana National Petroleum Corporation.
The agreement establishes a framework of commercial principles to support the development of new infrastructure under the Offshore Cape Three Points Non-Associated Gas Upgrade Project.
Officials say the milestone builds on a Memorandum of Intent signed in September 2025, reinforcing collaboration on strategic investments in Ghana’s upstream petroleum sector.
Production Expected to Rise Significantly
Under the proposed upgrade, gas output from the Offshore Cape Three Points project is projected to increase by up to 350 million standard cubic feet per day by 2028.
The expansion will be driven by the development of the Gye Nyame field and the installation of additional infrastructure, including a booster compressor and a new gas system on the project’s floating production storage and offloading vessel.
The OCTP project remains a key pillar of Ghana’s energy mix, supplying a significant portion of gas used for power generation.
According to the minister, the expansion will “enhance our energy security, reduce reliance on imported fuels, and support growing demand from industry and households.”
Signal to Investors
Government officials say the agreement sends a strong message to global investors about Ghana’s commitment to a stable and competitive energy sector.
“This reflects our commitment to creating a predictable and competitive environment for our partners,” the minister noted, adding that the country remains focused on developing its natural resources responsibly.
The planned upgrade is expected to play a critical role in meeting rising energy demand while supporting long-term economic growth.
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