GNPC secures $3.5 Billion investment to boost oil and gas output
The Ghana National Petroleum Corporation (GNPC) and its partners have secured over $3.5 billion in investment commitments aimed at increasing oil and gas production as Ghana works to meet rising energy demand and strengthen its energy security.
Speaking at the West Africa Gas Summit (WAGS) 2026 in Accra, GNPC Deputy Chief Executive Officer for Finance, Commercial and Administration, Hamis Ussif, said partners operating in the Jubilee and TEN oil fields have pledged about $2 billion in investment by 2028 to expand both oil and gas output.
He added that partners in the Sankofa field have also committed an additional $1.5 billion to boost gas production.
“We are working with the Jubilee and TEN partners to increase investment. They have committed to $2 billion investment by 2028 to increase both oil and gas production. We are doing the same with the Sankofa partners where they have committed $1.5 billion to also increase gas production mainly,” he said.
Mr. Ussif cautioned that despite these investments, Ghana could still experience a growing gap between gas supply and demand in the coming years.
He projected that national gas demand could reach about 840 million standard cubic feet per day by 2030 and rise to around one billion cubic feet per day by 2036.
“By 2030, we are looking at around 840 million standard cubic feet per day, and by 2036, we are looking at hitting one billion cubic feet of demand per day,” he noted.
According to him, current domestic production levels, even when combined with imports from Nigeria, will not be sufficient to meet future demand.
“From our projections, we can’t meet this from domestic production, nor even with imports from Nigeria. That’s why we are working with partners to import LNG,” he explained.
He further disclosed that GNPC is progressing with plans to operationalise a liquefied natural gas (LNG) import terminal in Tema, which is about 95 percent complete. The facility is expected to help bridge supply gaps and also serve neighbouring countries in the sub-region.
“We will import the LNG and then be able to feed the demand in Ghana, but also to feed demand in the sub-region,” he said.
Mr. Ussif said the ongoing investments are part of broader efforts to ensure reliable energy supply for power generation, industrial expansion, and Ghana’s ambition of becoming a regional energy hub.
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