The Energy Minister, John Jinapor, says Ghana’s petroleum production is expected to rebound this year after five consecutive years of decline in the sector./
According to him, the government is implementing measures to strengthen the resilience of the energy sector while attracting fresh investment into oil and gas production.
Speaking during President John Mahama’s “Resetting Ghana” citizens engagement in the Savannah Region on Saturday, May 23, Mr. Jinapor said recent investment agreements are expected to boost output and reverse the downward trend in crude oil production.
He disclosed that the government has signed a $1.5 billion Memorandum of Understanding with Italian energy company Eni, alongside another $2 billion agreement with Jubilee Partners.
According to him, these investments are expected to strengthen Ghana’s upstream petroleum sector and support a recovery in production levels.
“For five consecutive years, petroleum production has been declining. This year, let me assure you, petroleum production is not going to decline. It’s going to pick up and rise again,” he said.
Mr. Jinapor added that although the energy sector remains challenging, ongoing reforms and new investments are beginning to yield positive results.