Ghana Secures $1.5bn Energy MoI with ENI, Vitol and GNPC at Africa Oil Week
ACCRA | 18 September 2025 – Ghana has signed a US$1.5 billion Memorandum of Intent (MoI) with ENI, Vitol, and the Ghana National Petroleum Corporation (GNPC) during Africa Oil Week 2025, reinforcing the country’s energy ambitions through a framework focused on production growth and sustainability.
The MoI, announced by ENI and its partners, outlines an integrated investment plan designed to strengthen Ghana’s energy supply while advancing responsible development. Key areas under consideration include a possible increase in production capacity from the Offshore Cape Three Points (OCTP) project, evaluation of the Eban-Akoma discovery in Block 4, and the use of existing infrastructure to accelerate time-to-market for new resources.
The agreement also highlights commitments to community development and sustainability. ENI and partners noted that more than US$10 million has already been invested in social programs benefiting over 10,000 people, with further initiatives planned as part of the hub’s next phase. The emphasis on “low-impact access to energy” reflects the parties’ alignment with global energy transition goals.
By formalizing this partnership, Ghana strengthens its ability to meet rising domestic energy demand while maintaining investor confidence in its regulatory and business environment. The MoI positions Ghana not only to enhance upstream output but also to sustain its role as a reliable partner in West Africa’s evolving energy landscape.
The US$1.5 billion Memorandum of Intent signed between ENI, Vitol, GNPC, and the Government of Ghana at Africa Oil Week (AOW) comes at a time when West Africa is striving to balance resource development with energy transition imperatives. The region remains one of the world’s most promising hydrocarbon frontiers, yet producers face dwindling global upstream investment and mounting calls to embed sustainability in their strategies. Against this backdrop, AOW has become a critical convening space where African governments, national oil companies, and international operators recalibrate partnerships to secure both capital and credibility.
For Ghana, the MoI strengthens its positioning as a dependable player in the sub-region. By advancing OCTP expansion and related upstream opportunities, the country reinforces its role in supplying reliable energy for domestic use while maintaining appeal to global investors. The emphasis on “low-impact access to energy” in ENI’s statement resonates with continental debates on how African producers can responsibly develop hydrocarbons while engaging in global climate and transition dialogues. In this sense, Ghana’s collaboration with long-standing partners demonstrates how West African states are leveraging legacy assets to drive near-term security and long-term resilience.
The agreement also intersects with Ghana’s wider petroleum ambitions, particularly the Petroleum Hub Development Corporation’s (PHDC) mandate to anchor large-scale midstream and downstream capacity in the Western Region. While the MoI focuses on upstream production, the confidence it signals from global operators strengthens the investment case for complementary infrastructure, including refining, storage, and trading initiatives under the PHDC. Taken together, these efforts highlight Ghana’s attempt to weave its upstream partnerships into a broader industrialisation agenda, aligning with West Africa’s push to extract greater domestic value from hydrocarbon resources while navigating the complexities of global energy transition.
