ENI eyes new oil blocks as confidence returns to Ghana's upstream sector

Italian energy giant ENI says it is looking forward to participating in the development of new oil and gas blocks in Ghana, citing renewed investor confidence under the administration of President John Dramani Mahama and the leadership of the Minister for Energy and Green Transition, Dr John Abdulai Jinapor.

The company made the remarks during a meeting with the Energy Minister, where a high-level ENI delegation, led by Guido Brusco, Chief Operating Officer for Global Natural Resources, expressed satisfaction with the improved business environment in Ghana's petroleum sector.

According to ENI, the investment climate under the current administration is markedly different from what the company experienced in the past.

The delegation praised the government's open engagement with investors, policy consistency, and commitment to creating an enabling environment that supports long-term investment in the upstream petroleum industry.

ENI noted that the renewed confidence has reinforced its commitment to Ghana and heightened its interest in securing additional acreage when new oil and gas blocks become available.

The meeting also reviewed the company's recent operational achievements, including reversing production decline through the successful drilling of new wells, attaining a record gas production of 282 million standard cubic feet (MMSCF) to support power generation, and maintaining an operational reliability rate of more than 99%.

Discussions further focused on ongoing exploration activities, appraisal wells, potential field extensions, and future investment plans aimed at increasing production and strengthening Ghana's energy security.

Minister for Energy and Green Transition, Dr John Abdulai Jinapor, reiterated the government's commitment to maintaining a transparent, stable, and investor-friendly regulatory framework that encourages responsible investment and unlocks the full potential of Ghana's petroleum resources.

He welcomed ENI's renewed confidence and reaffirmed the government's readiness to work with industry partners to attract fresh investment and accelerate growth in the energy sector.