Government has reiterated its commitment to maintaining Ghana’s upstream petroleum sector as a safe and attractive destination for investment, as it deepens reforms across both the upstream and downstream segments to strengthen stability in the energy and power sectors.
Acknowledging energy as a critical driver of economic activity, government says it has prioritised policies aimed at improving supply reliability and cost efficiency, while restoring investor confidence across the petroleum value chain.
Speaking on behalf of the Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, at the Ghana Oil and Gas Awards, Technical Advisor at the Ministry, Dr. Yusif Sulemana, said government has adopted a gas-to-power strategy to reduce dependence on expensive liquid fuels and enhance the long-term sustainability of the power sector.
He attributed recent improvements in electricity supply to deliberate policy interventions and intensified efforts to revitalise both the upstream and downstream petroleum sectors.
“If you look at the first few months of the year, power supply was quite erratic,” Dr. Sulemana noted. “The improvements we are witnessing now are not coincidental. They are the outcome of targeted reforms and sustained hard work across the petroleum and power sectors to support reliable electricity delivery.”
According to him, a key shift in policy direction has been government’s decision to integrate the petroleum and power sectors, rather than treating them as isolated components of the energy value chain.
Historically, power generation relied heavily on liquid fuels, which were costly and environmentally unfriendly,” he said. “With renewed activity in the upstream sector, we are now leveraging domestic gas resources to generate power more efficiently, affordably and sustainably.”
Dr. Sulemana stressed that the reforms have helped restore confidence among upstream operators, reversing earlier concerns that had prompted some companies to consider exiting the Ghanaian market.
“Today, upstream players recognise that Ghana is a safe destination for investment. This outcome is deliberate. There was a period when the investment environment was less favourable, but that narrative has clearly changed,” he stated.
While acknowledging the global momentum toward renewable energy, Dr. Sulemana said government is pursuing a balanced transition strategy that continues to harness oil and gas resources alongside investments in green energy.
“We are fully aware that oil and gas are finite resources. That is why we are diversifying our energy mix and advancing the green transition. We are working on both tracks simultaneously, ensuring that progress in renewables does not undermine the stability provided by conventional energy sources,” he explained.
Government believes the combined approach will strengthen energy security, support industrial expansion and underpin long-term economic stability, while positioning Ghana as a credible and competitive destination for energy investment.
Government Reassures Investors of Stability in Ghana’s Upstream Petroleum Sector
Government has reiterated its commitment to maintaining Ghana’s upstream petroleum sector as a safe and attractive destination for investment, as it deepens reforms across both the upstream and downstream segments to strengthen stability in the energy and power sectors.
Acknowledging energy as a critical driver of economic activity, government says it has prioritised policies aimed at improving supply reliability and cost efficiency, while restoring investor confidence across the petroleum value chain.
Speaking on behalf of the Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, at the Ghana Oil and Gas Awards, Technical Advisor at the Ministry, Dr. Yusif Sulemana, said government has adopted a gas-to-power strategy to reduce dependence on expensive liquid fuels and enhance the long-term sustainability of the power sector.
He attributed recent improvements in electricity supply to deliberate policy interventions and intensified efforts to revitalise both the upstream and downstream petroleum sectors.
“If you look at the first few months of the year, power supply was quite erratic,” Dr. Sulemana noted. “The improvements we are witnessing now are not coincidental. They are the outcome of targeted reforms and sustained hard work across the petroleum and power sectors to support reliable electricity delivery.”
According to him, a key shift in policy direction has been government’s decision to integrate the petroleum and power sectors, rather than treating them as isolated components of the energy value chain.
Historically, power generation relied heavily on liquid fuels, which were costly and environmentally unfriendly,” he said. “With renewed activity in the upstream sector, we are now leveraging domestic gas resources to generate power more efficiently, affordably and sustainably.”
Dr. Sulemana stressed that the reforms have helped restore confidence among upstream operators, reversing earlier concerns that had prompted some companies to consider exiting the Ghanaian market.
“Today, upstream players recognise that Ghana is a safe destination for investment. This outcome is deliberate. There was a period when the investment environment was less favourable, but that narrative has clearly changed,” he stated.
While acknowledging the global momentum toward renewable energy, Dr. Sulemana said government is pursuing a balanced transition strategy that continues to harness oil and gas resources alongside investments in green energy.
“We are fully aware that oil and gas are finite resources. That is why we are diversifying our energy mix and advancing the green transition. We are working on both tracks simultaneously, ensuring that progress in renewables does not undermine the stability provided by conventional energy sources,” he explained.
Government believes the combined approach will strengthen energy security, support industrial expansion and underpin long-term economic stability, while positioning Ghana as a credible and competitive destination for energy investment.