Ghana signs offshore oil exploration MoUs with ENI and Vitol

The Ghanaian government has signed two Memoranda of Understanding (MoUs) with ENI Ghana and Vitol Upstream Tano Ltd to advance offshore oil exploration in the Tano Basin. The agreements involve the Ghana National Petroleum Corporation (GNPC) and cover two offshore blocks, GH WB 3 and GH WB 8, spanning approximately 2,100 square kilometres.

These blocks feature water depths between 750 and 2,800 metres, making them technically demanding. The MoUs build upon a 2025 Memorandum of Intent that proposed a US$1.5 billion investment in the country's upstream petroleum sector. While the signing marks a significant step toward formal drilling commitments, full commercial Petroleum Agreements must still be finalized.

Energy and Green Transition Minister Dr. John Abdulai Jinapor signed the documents on behalf of the government. The move is part of broader upstream reforms intended to increase competitiveness and attract investment into Ghana's hydrocarbon sector by leveraging existing petroleum infrastructure and producing fields.