Shell and Chevron sign MoU to explore Ghana’s Eastern Keta Basin

Global energy companies Shell and Chevron have signed a memorandum of understanding (MoU) to explore potential opportunities in Ghana’s Eastern Keta Basin. The agreement was signed during Africa Oil Week, according to Simon Madjie, CEO of the Ghana Investment Promotion Authority (GIPA).

This development follows reports of interest from Brazil’s state-owned oil company, Petrobras, in Ghana’s oil acreage and blocks. The sector is also seeing significant activity from existing operators, including a planned $2 billion investment in the Jubilee field to drill 20 wells and a $1.5 billion investment announcement by the Italian energy company Eni and its partners.