Ghana invites Petrobras for direct talks on oil exploration in Keta Basin

Ghana has extended an invitation to Petrobras, the Brazilian state-owned oil company, to engage in direct talks regarding oil exploration in the Keta Basin. This move comes as Ghana seeks to attract new investments into its upstream petroleum sector. Emeafa Hardcastle, the Chief Executive of the Petroleum Commission, announced this at the launch of the 2025 Annual Investment Report.

The commission has already received expressions of interest from several major exploration and production (E&P) companies eager to secure petroleum agreements in Ghana.

While some of these discussions remain confidential, Ms. Hardcastle confirmed that Petrobras has been formally invited to engage in direct negotiations concerning the Keta Basin. The Petroleum Commission is committed to working alongside relevant government agencies to improve the regulatory environment and facilitate responsible petroleum development.

Ms. Hardcastle emphasized that investors should consider the broader economic opportunities that petroleum investments can generate, such as job creation, technology transfer, business development, infrastructure establishment, and industrial capability enhancement.

She highlighted the significant linkages between the upstream petroleum industry and other sectors of the Ghanaian economy, including engineering, fabrication, logistics, finance, insurance, information technology, manufacturing, and professional services. These linkages could position the petroleum sector as a catalyst for Ghana’s industrialization.

Ms. Hardcastle expressed optimism about the prospects for Ghana’s upstream industry and assured investors that the Petroleum Commission remains committed to ensuring that local content participation is commercially sustainable and contributes meaningfully to the country's economic transformation.