The government has signed two Ghana offshore exploration agreements with ENI Ghana, Vitol Upstream Tano Limited and the Ghana National Petroleum Corporation covering two acreages in the Tano Basin.
Energy and Green Transition Minister Dr John Abdulai Jinapor signed the memoranda of understanding on behalf of the government.
The agreements cover blocks GH WB 3 and GH WB 8, which span approximately 2,100 square kilometres. Water depths across the two areas range from 750 metres to 2,800 metres.
The documents are preliminary and do not yet amount to completed petroleum agreements. They create a framework for negotiations leading to the final contracts required before exploration and possible development can proceed.
Existing infrastructure offers an advantage
The two acreages sit close to producing fields and established petroleum infrastructure in Ghana’s western offshore basin.
That location could allow the partners to use existing facilities if commercially viable discoveries are made, potentially reducing development costs and shortening the path from exploration to production.
The Ministry described the signing as a major step in efforts to revive upstream activity and unlock additional hydrocarbon resources.
It said current reforms were intended to create “a more competitive, predictable and investment friendly upstream petroleum sector” while protecting Ghana’s national interest.
MoUs build on US$1.5bn proposal
The new agreements follow a memorandum of intent signed in 2025 involving a proposed investment of US$1.5 billion.
That earlier arrangement focused on increasing oil and gas production, expanding exploration and assessing potential development opportunities around ENI’s existing operations.
The latest MoUs move the discussion towards specific acreage and possible work programmes.
Ghana has been trying to attract fresh upstream investment as production from its established fields declines and exploration activity slows.
Signing the documents is the easy part. The real milestone will come when the petroleum agreements are finalised, investment is committed and drilling begins.
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