The Energy Minister, John Jinapor, has announced that Ghana’s petroleum production is expected to rebound this year, following five consecutive years of decline within the sector.
According to the minister, the government is currently implementing robust measures designed to strengthen the resilience of the energy sector while simultaneously attracting fresh investment into oil and gas production.
Speaking during President John Mahama’s “Resetting Ghana” citizens engagement in the Savannah Region on Saturday, 23 May, Mr Jinapor explained that recent investment agreements are projected to boost output and reverse the downward trend in crude oil production.
He disclosed that the government has signed a $1.5 billion Memorandum of Understanding with the Italian energy company Eni, alongside a separate $2 billion agreement with Jubilee Partners.
He noted that these significant investments are anticipated to strengthen Ghana’s upstream petroleum sector and support a full recovery in production levels.
“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 said.
Mr Jinapor concluded by adding that although the energy sector remains challenging, ongoing reforms and new investments are finally beginning to yield positive results.
By: Rainbowradioonline.com/Ghana
