Ghana is seeking to unlock a new wave of investment in its upstream petroleum sector by improving regulatory efficiency, strengthening investor certainty and creating more competitive commercial and fiscal conditions.
The issue took centre stage during Ghana Day on the second day of Africa Oil Week 2026, where industry stakeholders examined measures needed to convert the country’s petroleum resource potential into increased investment and production.
The discussion, moderated by the Deputy Chief Executive of the Ghana National Petroleum Corporation (GNPC) in charge of Exploration and Production, Michael Aryeetey, brought together representatives from GNPC Explorco, the Petroleum Commission and industry operators.
The speakers noted that while Ghana has significant upstream opportunities and attractive geological prospects, access to reliable data, efficient regulation, competitive fiscal terms, commercially aligned partnerships and greater policy certainty would be critical to attracting the next generation of investors.
The GNPC’s Deputy Chief Executive in charge of Finance, Commercial and Administration, Hamis Ussif, stressed the need for continuous reforms and faster decision-making to maintain Ghana’s competitiveness in the increasingly competitive global upstream investment market.
He said good geology could attract the attention of investors, but competitive fiscal terms, predictability and the speed at which regulatory and commercial decisions are taken are essential to converting resources into investment and, ultimately, production.
Mr. Ussif also called for greater recognition of GNPC as an investor, arguing that the national oil company requires sufficient financial predictability to raise capital, participate in joint investments and operate commercially at the scale expected of a national oil company.
Meanwhile, the Managing Director of GNPC Explorco, Samuel Opoku Arthur, said Ghana also needed to demonstrate to investors that it has a national partner willing and capable of sharing the risks associated with upstream investments.
He said GNPC Explorco was prepared to invest its own equity, fund work programmes and share risks with strategic investors as the country seeks to accelerate exploration and production activities.
The discussions also highlighted the Voltaian Basin, one of Ghana’s frontier exploration areas, where GNPC and Explorco are advancing exploration activities and seeking technically and financially capable partners.
The ongoing efforts form part of Ghana’s broader strategy to attract fresh capital and technical expertise into the upstream sector, expand exploration activity and maximise the value of the country’s petroleum resources.
Stakeholders at the session agreed that creating a more predictable, competitive and commercially responsive investment environment would be critical to positioning Ghana as an attractive destination for upstream investment.
The discussions at Africa Oil Week come at a time when Ghana is seeking to reverse declines in oil production and attract new investments to sustain and expand the country’s petroleum industry.
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