GHANA AND KOSMOS ENERGY SET TO SIGN MoU FOR OIL EXPLORATION COLLABORATION

The Minister of Energy and Green Transition, John Abdulai Jinapor, announced that Ghana and Kosmos Energy are preparing to sign a memorandum of understanding (MoU) to facilitate oil exploration and production, with the company committing a $2 billion investment in the nation’s upstream sector.

While he did not reveal specific details, the minister expressed optimism about the promising outlook of Ghana’s oil and gas industry.

Mr. Jinapor delivered a keynote address last Tuesday before a panel discussion at the Africa Energy Forum, a technical session of the Offshore Technology Conference held in Houston, Texas, USA.

It is on the theme: "Africa's energy investment drive amid global transition to green minerals and clean energy."

The event brought together key stakeholders to examine the landscape of Africa’s oil and gas industry, explore funding opportunities, assess investment prospects, and discuss emerging challenges within the sector.

Energy Security

Mr. Jinapor emphasized the critical need for energy security, noting that over 600 million Africans currently face energy poverty. He urged for increased efforts to enhance energy accessibility and affordability across the continent.

He also indicated that Italian oil giant ENI is set to resume significant value-driven projects following the resolution of the unitisation dispute.

Mr Jinapor said Ghana was open for business, adding that "data and licence acquisition processes are being reformed."

He further revealed that Cabinet had given approval for the establishment of a second gas processing plant to complement the Atuabo Gas Plant.

Mr. Jinapor also visited Ghana’s exhibition stand, where he reaffirmed his confidence in the promising future of the country’s oil and gas sector.

Panel Discussion

The panel discussion brought together senior executives, directors, and regulators from several African nations, including Ghana, Senegal, and Nigeria, to deliberate on strategies for attracting investment, advancing local content, and managing the energy transition.

The session was chaired by Solomon Tamakloe, Chief Executive of USA-GHATEX International LLC, and moderated by Simon Madjie, Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC).

Overall, the forum provided a platform for dialogue on how Africa can harness its resources and strategically position itself in the global transition towards cleaner energy, while continuing to advance oil and gas development.

Ghana's Potential

Joe Mensah, Senior Vice-President and Head of the Ghana Business Unit at Kosmos Energy; Emeafa Hardcastle, Chief Executive of the Petroleum Commission; and Judith Adjobah Blay, Chief Executive of Ghana Gas Company Ltd, each took the opportunity to share insights on Ghana’s oil and gas sector and highlighted the steps Africans must take to maximize their investments in the industry.

Earlier, Nigeria’s Minister of Petroleum, Dr. Heineken Lokpobiri, emphasized that African challenges require African solutions, especially in the context of the energy transition.

He highlighted the importance of adopting a balanced energy mix that addresses Africa’s specific development needs while promoting sustainable energy objectives.

— The writer is a member of the Public Interest and Accountability Committee (PIAC).

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