Ghana signs MoUs with ENI, Vitol for new offshore oil exploration in Tano Basin

The Government of Ghana has signed two Memoranda of Understanding (MoUs) with ENI Ghana, Vitol Upstream Tano Ltd (Vitol) and the Ghana National Petroleum Corporation (GNPC), covering two offshore acreages in the Tano Basin.

The agreements, signed on Thursday, September 10, 2026, cover offshore blocks GH WB 3 and GH WB 8 and are expected to pave the way for the finalisation of the respective Petroleum Agreements.

The MoUs were signed on behalf of the government by the Minister for Energy and Green Transition, Dr John Abdulai Jinapor.

According to the government, the agreements form part of ongoing efforts to revive exploration and production activities and attract investment into Ghana’s upstream petroleum sector.

The two acreages cover approximately 2,100 square kilometres, with water depths ranging from 750 to 2,800 metres.

The government said the blocks’ proximity to existing producing areas and infrastructure could allow investors to leverage Ghana’s established petroleum infrastructure as exploration activities progress.

In a statement issued on Thursday, September 10, 2026, the government, through the Ministry of Energy and Green Transition, said the agreements were part of reforms aimed at making the upstream petroleum sector more attractive to investors.

“This reflects the upstream reforms being undertaken by the Government under the leadership of H.E. President John Dramani Mahama to create a more competitive, predictable and investment-friendly upstream petroleum sector, while ensuring that Ghana’s natural resources are developed responsibly and in the national interest,” the statement said.

The MoUs build on a Memorandum of Intent signed in 2025, which involved a proposed investment of US$1.5 billion.

The government added that the latest agreements represent a further step towards translating that proposed investment into exploration and production activities.

It also said it would continue to pursue reforms aimed at attracting investment and accelerating exploration and production.

The government also reiterated its commitment to ensuring that the country derives “maximum and sustainable value” from its hydrocarbon resources.

MA