The Government of Ghana has signed two Memoranda of Understanding (MoUs) with Eni Ghana, Vitol Upstream Tano Ltd (Vitol), and the Ghana National Petroleum Corporation (GNPC) covering the offshore acreages GH WB 3 and GH WB 8 in the Tano Basin.
The agreements mark a significant step in the government’s efforts to revitalise oil and gas exploration and production and unlock the country’s hydrocarbon potential.
According to the government, the agreements also reflect ongoing upstream reforms aimed at strengthening Ghana’s petroleum sector, attracting investment and creating a more competitive and predictable investment environment.
The reforms are being implemented under the leadership of President John Dramani Mahama as part of efforts to improve the management and development of the country’s petroleum resources.
The government reaffirmed its commitment to responsible exploration and production, effective management of Ghana’s petroleum resources and ensuring that revenues and other benefits from the sector contribute to sustainable national development.
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