Ghana Declares Eban-Akoma Oil and Gas Discoveries Commercially Viable, Paving Way for Energy Expansion
Ghana’s Ministry of Energy and Green Transition has officially declared the commercial viability of the Eban-Akoma oil and gas discoveries, marking a significant milestone in the country’s quest to expand its hydrocarbon sector and strengthen energy security.
The announcement was made by a joint venture comprising Eni Ghana Exploration & Production Ltd, Vitol Upstream Tano Ltd, Woodfields Upstream Ghana Ltd, and GNPC Exploration & Production Company Ltd (Explorco), in collaboration with the Ghana National Petroleum Corporation (GNPC).
Speaking on the development, Energy and Green Transition Minister John Abdulai Jinapor described the declaration as a “major boost to our oil and gas sector.” He emphasized the project’s strategic importance to Ghana’s industrialization goals and long-term energy stability.
“The Declaration of Commerciality for the Eban-Akoma discoveries is a major boost to our oil and gas sector. It highlights the immense potential of our offshore resources to fuel economic transformation, enhance energy security, and drive Ghana’s industrialisation agenda. We commend the JV partners and GNPC for their dedication to this strategic national asset,” Minister Jinapor stated.
Following the declaration, the joint venture partners are expected to submit a comprehensive Plan of Development (PoD). The plan will focus on optimizing resource extraction, maximizing value for Ghana, and ensuring strong participation from local businesses and talent — in line with the country’s national energy policy.
The Petroleum Commission and GNPC will jointly provide regulatory oversight and technical support to align the development with Ghana’s economic priorities.
Government Reinforces Commitment to Investor-Friendly Energy Sector
The Ministry of Energy and Green Transition reaffirmed its commitment to fostering a transparent, resilient, and investor-friendly oil and gas industry. The commerciality declaration is seen as evidence of Ghana’s balanced approach to resource development — one that encourages private sector participation while ensuring national benefit.
Upcoming technical and commercial evaluations will further define the framework for development and production, ensuring that the project aligns with Ghana’s climate goals and sustainable development agenda.
The Eban-Akoma discoveries, located in Ghana’s offshore basins, are viewed as critical additions to the country’s energy portfolio. The government sees this progress as part of a broader effort to:
- Boost domestic energy production,
- Reduce reliance on imports,
- Generate new employment opportunities,
- And attract long-term investment into the upstream oil and gas space.
This development comes at a time when Ghana is also expanding its gold reserves and exploring other natural resource ventures, reinforcing its position as a key player in Africa’s extractive industries.
