The Government of Ghana has taken a significant step toward strengthening the country’s energy sector by signing a major term sheet agreement with Eni Ghana E&P, Vitol Upstream Ghana Limited, and the Ghana National Petroleum Corporation to expand domestic gas production under the Offshore Cape Three Points (OCTP) project.

The agreement was signed on behalf of the government by John Abdulai Jinapor, alongside Cassiel Ato Forson, marking a coordinated effort between the energy and finance sectors to accelerate strategic investments in the country’s petroleum industry.

This term sheet sets out the commercial framework for the development of new gas infrastructure under the OCTP Non-Associated Gas (NAG) Upgrade Project. It builds on a Memorandum of Intent signed in September 2025, which committed all parties to collaborate on long-term initiatives aimed at boosting Ghana’s gas production capacity and improving energy reliability.

Under the expansion plan, gas output from the OCTP project is projected to increase significantly—reaching up to 350 million standard cubic feet per day by 2028. This increase will be driven by the development of the Gye Nyame field, a key offshore resource, as well as the installation of critical infrastructure, including a booster compressor and a new non-associated gas system on the project’s Floating Production Storage and Offloading (FPSO) vessel.

The OCTP project has already played a vital role in Ghana’s energy mix, supplying gas for power generation and supporting industrial growth. The planned upgrade is expected to further enhance energy security by ensuring a more stable and reliable supply of domestic gas. It will also help reduce Ghana’s reliance on imported fuels, which have historically exposed the country to global price volatility.

In addition to strengthening power generation, the increased gas supply is expected to support expanding industrial demand and improve energy access for households. Analysts believe the project could also contribute to economic growth by creating jobs and encouraging further investment in the upstream petroleum sector.

Speaking after the signing ceremony, Mr. Jinapor described the agreement as a major milestone in Ghana’s energy development agenda.

“Today’s signing sends a strong signal that Ghana’s upstream petroleum sector remains open, stable and ready for investment,” he stated.

He further emphasized the government’s commitment to maintaining a transparent and investor-friendly environment while ensuring that Ghana’s natural resources are managed responsibly and deliver long-term benefits to citizens.

The agreement underscores Ghana’s broader strategy to position itself as a leading energy hub in West Africa, leveraging its natural gas resources to drive sustainable development and economic resilience.

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