Ghana expects to sign at least six new petroleum agreements with international oil companies by the first quarter of 2027, Minister of Energy and Green Transition Dr John Abdulai Jinapor has announced. He named Eni, Vitol, Shell, Chevron, Petrobras and ExxonMobil among the companies in talks with government.
The minister made the disclosure on Tuesday, November 10, 2026, at the Petroleum Commission’s 2026 Local Content Conference and Exhibition in Takoradi. The event also marks the Commission’s 15th anniversary.
He said negotiations with the major players are progressing under government’s programme to revitalise the upstream oil and gas sector. The announcement comes days before the 2027 Budget is presented to Parliament on Thursday, November 12.
At the same event, President John Dramani Mahama announced a new hydrocarbon discovery in the Deepwater Cape Three Points Block. GhanaTrends reported that story here: Mahama announces new gas discovery in Deepwater Cape Three Points.
Six new petroleum agreements expected by Q1 2027
According to the minister, government is targeting at least six new agreements with international oil companies by the end of the first quarter of 2027.
Eni, Vitol, Shell, Chevron, Petrobras and ExxonMobil were named as companies engaged in discussions. The specific blocks and terms of the deals have not been made public.
Dr Jinapor also welcomed a Memorandum of Understanding between the Ghana National Petroleum Corporation (GNPC) and Eni, which includes an associated gas sales agreement.
Ghana oil production rebounds after six-year decline
The minister said average daily crude oil output has risen by about 22%, from 102,000 barrels a day in 2025 to about 122,700 barrels a day.
“We are on course to reverse the persistent decline in crude oil production for the first time in approximately six years,” he said, as quoted by 3News.
He noted that annual production had fallen from a peak of about 71 million barrels to about 37 million barrels, a decline that hurt business activity in Takoradi.
Oil and gas figures at a glance
- Daily crude output in 2025: about 102,000 barrels
- Current daily crude output: about 122,700 barrels (up about 22%)
- Annual crude production: down from a peak of about 71 million barrels to about 37 million barrels
- Value of services by indigenous Ghanaian firms: US$227.5 million (2024) to US$451.8 million (2025), up nearly 99%
- Ghanaian share of the upstream workforce: about 90%
- New petroleum agreements targeted: at least six by Q1 2027
Third gas processing plant and priority fields
Dr Jinapor said construction of Ghana’s third gas processing plant is planned, with groundbreaking expected next month.
Government is prioritising development of the Eban-Akoma field, the Pecan field and prospects in the deepwater Keta area. It is also pursuing new exploration, more domestic gas production and fiscal and regulatory reforms to make Ghana more competitive.
Why Ghana is courting oil majors
The minister said Ghana is competing with other African producers for limited global exploration capital. He said the country can no longer depend only on its petroleum potential to attract investors.
He said the Mahama administration has introduced measures to improve policy certainty and the regulatory environment. The goal now goes beyond stabilising output to sustained growth, reserve replacement and long-term investment.
What the new petroleum deals mean for Ghanaian businesses
Dr Jinapor said local content must go beyond regulatory compliance and become a tool for jobs, technology transfer and competitive Ghanaian companies.
He urged international oil companies to “partner with Ghanaian businesses, transfer technology and invest in local capabilities.” He also called on local firms to strengthen technical capacity, corporate governance and efficiency so they can win more contracts.
For Takoradi and the Western Region, new investment could revive activity that slowed as production fell. More information on local content rules is available from the Petroleum Commission.
What happens next
Government’s next milestones are signing the targeted agreements by the end of Q1 2027 and breaking ground on the third gas processing plant. The 2027 Budget, due on Thursday, is expected to give more detail on energy sector plans.
Quick Summary
- Announcement: At least six new petroleum agreements targeted by Q1 2027
- Announced by: Energy and Green Transition Minister Dr John Abdulai Jinapor
- Where: Petroleum Commission’s 2026 Local Content Conference, Takoradi, November 10
- Companies in talks: Eni, Vitol, Shell, Chevron, Petrobras, ExxonMobil
- Daily oil output: about 122,700 barrels, up from 102,000 in 2025
- Local content value: US$451.8 million in 2025
- Third gas processing plant: groundbreaking expected next month
FAQs
How many new petroleum agreements is Ghana planning to sign?
Ghana is targeting at least six new petroleum agreements with international oil companies by the first quarter of 2027, according to Energy Minister John Jinapor.
Which oil companies are in talks with Ghana?
The minister named Eni, Vitol, Shell, Chevron, Petrobras and ExxonMobil as companies engaged in discussions with government.
How much oil does Ghana produce per day in 2026?
Average daily crude output has risen to about 122,700 barrels, up about 22% from 102,000 barrels a day in 2025.
Ghana’s push for at least six new petroleum agreements by early 2027 marks a bid to lock in the recovery in oil output after six years of decline. With major oil companies in talks, a third gas plant planned and local content values nearly doubling, government says the focus is now on long-term investment and bigger opportunities for Ghanaian businesses.
