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

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

She revealed that multiple major exploration and production (E&P) companies have shown interest in securing petroleum agreements in Ghana. While some discussions remain confidential, Hardcastle confirmed that Petrobras has been formally invited to negotiate directly with Ghana over the Keta Basin. The Petroleum Commission will continue to collaborate with other government agencies to improve the regulatory environment and facilitate responsible petroleum development.

Hardcastle emphasized that the value of petroleum investments should not be limited to the capital influx; instead, it should consider job creation, technology transfer, business development, infrastructure establishment, and industrial capability building. These investments can significantly contribute to Ghana's industrialization.

The upstream petroleum industry has strong connections with various sectors such as engineering, fabrication, logistics, finance, insurance, information technology, manufacturing, and professional services. Hardcastle expressed optimism about the prospects for Ghana's upstream industry and assured investors that the Commission will work with other state institutions to enhance regulatory efficiency and create an environment conducive to long-term investment in the country's petroleum sector.