Ghana Secures OCTP Gas Expansion Pact with Eni, Vitol

Ghana has signed a key term sheet with Eni Ghana E&P, Vitol Upstream Ghana Limited, and the Ghana National Petroleum Corporation (GNPC) to expand gas production from the Offshore Cape Three Points (OCTP) project by up to 350 million standard cubic feet per day (MMscfd) by 2028.

The agreement was formalised earlier today by the Minister for Energy and the Minister for Finance, Dr Cassiel Ato Forson, and sets out the commercial framework for the OCTP Non-Associated Gas (NAG) Upgrade Project.

Gye Nyame Field at the Core
The planned expansion will centre on developing the Gye Nyame field, alongside the installation of a booster compressor and a new non-associated gas system on the project’s floating production storage and offloading (FPSO) vessel.

Officials say the upgrade is designed to strengthen Ghana’s domestic gas supply and reduce reliance on imported fuels as demand from industry and households grows.

From Memorandum to Milestone
Today’s signing follows a Memorandum of Intent signed in September 2025, in which the parties committed to collaborate on strategic investments in Ghana’s energy sector.

The OCTP project is already a cornerstone of Ghana’s energy mix, supplying a substantial share of the gas used for power generation.

The upgrade is expected to cement its role as a critical buffer for the country’s energy security.

Signal to Investors
The Energy Minister said the agreement sends a strong signal that Ghana’s upstream petroleum sector remains open, stable, and ready for investment.

“It reflects our commitment to creating a predictable and competitive environment for our partners, while ensuring that our natural resources are developed responsibly for the benefit of all Ghanaians,” he stated.

The government has positioned the expansion as part of a broader strategy to leverage domestic resources to power economic growth while maintaining a stable and competitive investment climate in the energy sector.

Story by Hajara Fuseini

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