Ghana's Energy Future in Focus as Minister Jinapor Joins African Energy Week (AEW) 2025
Ghana's energy sector is undergoing rapid transformation. With over 17 oil and gas projects scheduled for development by 2027 and reforms already driving increased output, the country is laying the groundwork for sustained growth. In the upstream sector, Ghana has revised its fiscal terms – mandating 15% free and carried interest in all oil and gas projects and introducing more flexible royalty regimes to attract foreign players. Major projects like the Pecan Phase 1A Upstream Project - developed by Aker Energy, Lukoil, Ghana's state-owned Ghana National Petroleum Corporation (GNPC), and others - and the Atuabo II Gas Processing Plant, led by Ghana Gas, are scheduled to come online in 2025. Additionally, a $700 million Gas Processing Plant 2 (GPP2) project— also led by Ghana Gas—is in the pipeline, aimed at expanding the country's gas processing capacity and strengthening supply for domestic power generation and industrial consumption. Meanwhile, Ghana's Gas Master Plan (GMP) – a long-term growth strategy through 2040 – is incentivizing capital and technology deployment across the gas value chain. With 2.1 trillion cubic feet of proven gas reserves, the GMP is central to Ghana's ambition to become a gas-powered country.
To further bolster oil and gas production, the country is turning towards exploration. Ongoing exploration efforts, such the GNPC's drilling program in the Voltaian Basin and Tullow Oil's development plans for the Jubilee and TEN fields, are expected to further bolster production and attract new players. The GNPC will drill an exploration well in the Voltaian Basin in 2025, targeting new exploration plays, while Tullow Oil seeks to bolster output at Jubilee and TEN. The company completed a seismic drilling campaign at Jubilee earlier in 2025 and will start a drilling campaign in May 2025. A plan to revive output at the TEN field is also being formulated.
In the downstream and infrastructure sectors, Ghana is spearheading the development of an Integrated Petroleum Hub - the first of its kind in West Africa. The hub will feature three refineries, five petrochemical plants, storage infrastructure, jetties and port facilities, supported by a TCP-UIC-led private sector consortium. Agreements for Phase 1 were signed in 2024, and AEW: Invest in African Energies 2025 is well-positioned to provide a vital platform for discussions on financing and partnerships related to this multi-billion-dollar initiative.
Beyond hydrocarbons, Ghana is also leading in renewable energy and nuclear development, emerging as a top destination for utility-scale solar and wind projects and preparing to construct its first nuclear power facility. These projects align with the Ministry of Energy and Green Transition's broader commitment to a diversified energy mix and long-term sustainability.
'Ghana's leadership in reforming its energy sector and building a competitive investment environment sets a powerful example for the continent. By targeting investment across the entire energy value chain – from oil and gas exploration to downstream infrastructure to regional connectivity and community development – the country seeks to alleviate energy poverty and position itself as a regional hub,' states NJ Ayuk, Executive Chairman of the African Energy Chamber.
AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and as emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
Distributed by APO Group on behalf of African Energy Chamber.
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