Ghana is moving to expand its energy portfolio after granting a declaration of commerciality for the Eban Akuma oil and gas discoveries in Cape Three Points, Block Four, a milestone that allows joint venture partners Eni, Vitol, Woodfields, and the Ghana National Petroleum Corporation (GNPC) to submit a full development plan.
President John Mahama, engaging the media this week, said the development marks an important step toward increasing oil and gas production, creating jobs, and strengthening energy security. He added that government has also approved the construction of a second gas processing plant (GPP2), a project designed to double national processing capacity and reduce dependence on costly imported fuels.
According to the president, the new facility is projected to save Ghana close to $500 million every two years, while generating more than 1,000 direct and indirect jobs. “This landmark project is expected to save the country close to 500 million U.S. dollars every two years by drastically cutting our reliance on expensive imported liquid fuel. Beyond the cost reduction, it is projected to create over a thousand direct and indirect jobs, fueling both industry and livelihoods,” Mahama told journalists.
The second gas plant is also expected to underpin cheaper, cleaner, and more reliable power generation, a key priority for the administration following years of intermittent supply that weighed heavily on industrial performance. Mahama said the power crisis, locally dubbed ‘Dumsor,’ has been averted since January through swift interventions, adding that electricity supply has remained stable for households, businesses, and essential services.
The energy sector expansion could improve Ghana’s competitiveness against regional peers by securing affordable power for manufacturing and industrial growth. The declaration of commerciality for Eban Akoma also adds to Ghana’s upstream oil prospects, which could increase export revenues and fiscal buffers over the medium term.
The developments come as the government seeks to anchor economic recovery on energy security, industrialization, and natural resource management, positioning the sector as both a growth driver and a stabilizer of public finances.
