Ghana Declares Commerciality for Major Offshore Oil and Gas Discoveries

Ghana has officially declared the commercial viability of the Eban-Akoma oil and gas discoveries located in the Cape Three Points Block 4 (CTP-B4) — a significant milestone for the nation’s upstream petroleum industry.

The announcement was made by the Ministry of Energy and Green Transition following approval of the Declaration of Commerciality (DoC) submitted by a consortium of partners.

Consortium Driving the Project

The joint venture comprises:

• Eni Ghana Exploration & Production Ltd

• Vitol Upstream Tano Ltd

• Woodfields Upstream Ghana Ltd

• GNPC Exploration & Production Company Ltd (Explorco)

They are working in partnership with the Ghana National Petroleum Corporation (GNPC).

Minister’s Statement

Energy Minister John Abdulai Jinapor described the declaration as a major boost to Ghana’s oil and gas sector, emphasizing its economic and developmental potential.

“The Declaration of Commerciality for the Eban-Akoma discoveries is a major boost to our oil and gas sector. It highlights the immense potential of our offshore resources to fuel economic transformation, enhance energy security, and drive Ghana’s industrialisation agenda. We commend the JV Partners and GNPC for their dedication to this strategic national asset,” — John Abdulai Jinapor, Energy Minister

Next Steps: Plan of Development

Following the declaration, the partners are expected to submit a comprehensive Plan of Development (PoD) to optimize resource recovery and ensure maximum national benefit.

The Ministry highlighted:

• Strong emphasis on local content in line with Ghana’s energy policy.

• Oversight and support from Petroleum Commission and GNPC.

• Government’s commitment to a transparent, investor-friendly environment aligned with broader economic priorities.

Industry Expert Perspective

Industry expert Matthew Nwankwo described the Eban-Akoma discoveries as one of Ghana’s largest offshore finds in recent years, estimating resources at 500–700 million barrels of oil equivalent.

He noted its potential to:

• Strengthen domestic gas supply

• Boost investor confidence

• Position natural gas as a key transition fuel

Nwankwo also referenced a recent deal for 30 million standard cubic feet/day of domestic gas supply as evidence of the project’s near-term impact.

“As someone actively involved in midstream gas infrastructure and operations, this kind of momentum highlights the purpose behind our work preparing for and supporting a future where energy delivery is both sustainable and reliable,” — Matthew Nwankwo on LinkedIn

Strategic Importance

The Declaration of Commerciality is a pivotal step for Ghana’s oil and gas industry, reinforcing the government’s resolve to responsibly harness natural resources for:

• Industrial growth

• Long-term energy security

• Regional energy leadership

As development progresses, the Eban-Akoma project is set to be a cornerstone in Ghana’s ambition to become a leading energy hub in West Africa.