Jubilee, ENI partners announce $3.5bn investments in Ghana’s oil sector
Jubilee and ENI partners have announced investments totalling $3.5 billion in Ghana’s oil sector, Ghana Investment Promotion Authority (GIPA) CEO Simon Madjie has said.
Jubilee and ENI partners have committed $3.5 billion to Ghana's oil sector, according to Ghana Investment Promotion Authority (GIPA) CEO Simon Madjie. The partnership announcement, revealed on Joy News' PM Express Business Edition, signifies growing activity in the industry. Madjie also highlighted interest from other international oil companies.
The investment breakdown includes a $2 billion commitment from Jubilee and a $1.5 billion pledge from ENI and its partners. The former will fund the drilling of 20 wells in the Jubilee field. Similarly, ENI's $1.5 billion investment remains undisclosed in terms of specific projects. Beyond Jubilee and ENI, Chevron and Shell have entered into a memorandum of understanding to explore the Eastern Keta Basin, while Petrobras has shown interest in Ghana's available oil acreages and blocks.
Madjie did not provide further technical details, directing inquiries to the Petroleum Commission and the Ministry of Energy. Regarding ExxonMobil, Madjie acknowledged ongoing discussions about the company's potential return to the sector but declined to disclose further information.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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