The government has reassured investors that Ghana’s upstream petroleum industry remains secure and attractive for investment, as it implements reforms across both the upstream and downstream segments to strengthen stability within the energy and power sectors.
Recognising energy as a critical driver of economic growth, the government says it has placed priority on policies designed to enhance reliability, reduce costs, and rebuild investor confidence throughout the petroleum value chain.
Delivering remarks on behalf of the Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, at the Ghana Oil and Gas Awards, the Ministry’s Technical Advisor, Dr. Yusif Sulemana, said the government has adopted a gas-to-power approach aimed at cutting dependence on costly liquid fuels and improving the long-term sustainability of the power sector.
He explained that recent gains in power supply reliability were the outcome of intentional policy reforms and sustained efforts to revitalise activities in 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 said. “But the improvements we are seeing now are not by coincidence. They are the result of hard work and targeted reforms across the petroleum and power sectors to support reliable electricity delivery.”
Dr. Sulemana further noted that the government has moved beyond managing the petroleum and power sectors as isolated areas, opting instead for an integrated gas-to-power framework.
“Historically, we relied heavily on liquid fuels to generate power, which was expensive and environmentally unfriendly. With renewed vibrancy in the upstream sector, we are now leveraging domestic gas to generate power more efficiently and sustainably,” he explained.
He emphasised that the revised policy direction has helped restore confidence among upstream operators, adding that Ghana’s improving investment climate has eased earlier concerns within the industry.
“Today, upstream players know that Ghana is a safe destination to invest. This is not accidental. There was a time when the environment was not favourable and some companies considered exiting. That narrative has changed,” he said.
