John Abdulai Jinapor secures $3.5bn investment for petroleum sector

The Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, has announced that Ghana secured $3.5 billion in investment commitments to revitalize the nation’s upstream petroleum industry. Speaking at African Energy Week 2026, the minister revealed that these strategic interventions have already triggered a 30% increase in crude oil production. This significant growth effectively reverses a five-year downward trend in output, marking a pivotal recovery for the energy sector.

A major component of this financial influx is a US$2 billion agreement with Kosmos Energy focused on the Jubilee and TEN fields. The development plan includes the drilling of up to 20 new wells, designed to bolster oil recovery and enhance the domestic gas supply for power generation. Kosmos Energy CEO Andy Inglis highlighted that the agreement aligns investor requirements with Ghana’s national priorities, creating a more competitive environment for international energy companies to operate within the country.

To sustain this momentum, Dr. Jinapor detailed ongoing legal and fiscal reforms aimed at boosting investor confidence and ensuring long-term stability. The government’s strategy emphasizes not only resource extraction but also the expansion of local participation and refining capacity. These efforts are intended to ensure that the benefits of the petroleum sector translate into job creation and reliable energy security for the Ghanaian populace.

Dr. Jinapor credited the strategic direction provided by President John Dramani Mahama for the sector's current growth trajectory. He reaffirmed the administration’s commitment to managing petroleum resources as a catalyst for national prosperity. The minister concluded by stating that the government will continue to pursue policies that balance attractive investment conditions with the sovereign interests of the state.