Energy Minister Secures $3.5bn Energy Investments, Targets 35% Renewables at Africa Oil Week 2025

Minister for Energy and Green Transition, John Abdulai Jinapor, has unveiled bold plans to strengthen Ghana’s energy security and sustainability while attracting major investments into the sector.

Speaking at the 31st Africa Oil Week—hosted in Accra for the first time—Mr. Jinapor stressed that Africa’s vast natural resource wealth must be harnessed responsibly to fuel growth, reduce poverty, and create prosperity.

He noted that although the continent holds over 125 billion barrels of oil and 620 trillion cubic feet of natural gas, more than 600 million Africans still lack access to electricity. “Our duty is first and foremost to them. We cannot accept a transition that sidelines development or entrenches poverty,” he stated.

Mr. Jinapor revealed that Ghana has already secured US$3.5 billion in upstream petroleum investments. This includes a US$2 billion framework agreement with Jubilee and TEN partners to drill 20 new wells and develop key infrastructure, as well as a US$1.5 billion Memorandum of Intent with OCT partners to be signed during the conference.

“These investments are not just numbers; they represent jobs, infrastructure, and renewed investor confidence in Ghana’s economy,” he said, adding that other global energy players are also in talks to enter the country’s petroleum sector.

The Minister further highlighted Ghana’s renewable energy push, reiterating that the country is on track to achieve a 35% renewable share in its electricity mix by the end of 2025. He lauded President John Dramani Mahama’s decision to expand the Ministry’s mandate to include Green Transition, calling it a decisive step toward sustainable development.

“Diversifying our energy sources is crucial—not only to reduce dependence on fossil fuels but also to ensure energy security and protect our environment,” he added.