John Abdulai Jinapor
The Minister for Energy and Green Transition, John Abdulai Jinapor, has projected a recovery in the country’s petroleum production this year after five consecutive years of decline in the sector.
According to him, new investments and ongoing reforms in the energy sector are expected to reverse the downward trend in crude oil output and strengthen the country’s upstream petroleum industry.
Speaking during President John Dramani Mahama’s “Resetting Ghana” citizens’ engagement in the Savannah Region at the weekend, Mr. Jinapor assured Ghanaians that petroleum production would increase this year.
“For five consecutive years, petroleum production has been declining. This year, let me assure you, petroleum production is not going to decline. It’s going to pick up and rise again,” he stated.
The Energy Minister attributed the expected recovery to strategic investment agreements recently secured by the government to revive the oil and gas sector.
He disclosed that the government had signed a $1.5 billion Memorandum of Understanding with Italian energy giant Eni, in addition to another $2 billion agreement with Jubilee Partners aimed at boosting petroleum production and strengthening the resilience of the energy sector.
According to Mr. Jinapor, the agreements are expected to attract fresh capital into exploration and production activities while improving operational efficiency within the sector.
He noted that the energy sector continues to face significant challenges, but maintained that ongoing reforms and renewed investor confidence are beginning to produce positive outcomes.
The minister further indicated that government remains committed to creating a stable and attractive environment for energy-sector investment as part of broader efforts to support economic growth and improve energy security.
A Business Desk Report