At the 3rd Africa Energy Technology Conference held on Wednesday, the Petroleum Commission renewed its push for fresh investment into the country’s upstream petroleum sector, citing renewed industry confidence and growing international interest.
Speaking at the conference, Director of Economics and Local Content at the Petroleum Commission, Mr. Kwaku Boateng said Ghana’s upstream industry was showing clear signs of recovery.
“The industry is picking up, and we are seeing renewed attention from international players,” he told delegates during a panel discussion on Africa’s energy future. “Companies are beginning to recognise the long-term value and stability Ghana offers within the region.”
He pointed specifically to growing interests from the likes of CNOOC as evidence of confidence in Ghana’s upstream oil and gas sector
“The likes of CNOOC are showing interest in Ghana’s upstream industry, and that should send a positive signal to the market,” he said. “This is the time for investors to engage with Ghana because the opportunities remain significant.”
The Conference brought together policymakers, energy executives, investors and technology firms from across the continent to discuss innovation, financing and the future of Africa’s energy transition.
Mr. Boateng stressed that Ghana remained committed to creating a competitive and transparent investment environment while also deepening local participation in the sector.
“We are not only looking at attracting capital,” he said. “We are equally focused on ensuring that local companies and Ghanaian professionals benefit meaningfully from industry growth.”
He added that government and regulators were working to strengthen policy certainty, improve operational efficiency and encourage technology-driven exploration activities.
Industry analysts at the Conference noted that Ghana’s established petroleum infrastructure, political stability and proven offshore reserves continue to make it one of West Africa’s key upstream destinations within the context of the energy transition.
The renewed investment drive comes as African producers increasingly position natural gas and upstream development as critical components of the continent’s economic growth and energy security agenda.
Delegates at the Conference also discussed the role of technology and innovation in reducing operational costs and improving exploration success rates across African energy markets.