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Takoradi, Western Region —Energy Minister John Abdulai Jinapor has announced that government will revoke petroleum agreements for inactive oil blocks whose operators have failed to meet their minimum work obligations, in a decisive move to restore investor confidence in Ghana’s petroleum sector.
Speaking at the opening of the 2025 Petroleum Local Content Conference and Exhibition in Takoradi, John Jinapor said while Ghana is committed to attracting world-class energy investors, it will no longer tolerate companies that hold oil blocks without carrying out meaningful exploration activities.
“The cycle of repeated extensions of petroleum agreements must become a thing of the past,” the Minister declared. “No contractor or operator will be allowed to hold onto our oil blocks without fulfilling their minimum work obligations.”
The three-day conference, themed “Revitalizing Ghana’s Petroleum Exploration and Production Sector: Driving Innovation and Redefining Local Content for a Competitive Energy Economy,” has brought together policymakers, investors, and energy executives from more than 25 countries.
Discussions are focused on boosting exploration, local content participation, and investor confidence amid shifting global energy markets. Jinapor commended the Petroleum Commission’s new leadership for its renewed engagement with international oil companies and its push to streamline licensing and operations.
Acting CEO of the Petroleum Commission, Eme Fahad Kassem, revealed that Ghana’s upstream petroleum industry is seeing renewed investor interest. “In this relatively short period, we have received expressions of interest from three super majors and one large independent company,” he disclosed. “Negotiations are also at an advanced stage for a petroleum agreement with Shell for the South Deepwater Tano (SDWT) block.”
According to Kassem, the Commission is balancing its local content agenda with the need to maintain a competitive, investor-friendly environment. “As much as government is pushing for stronger participation of local players, we remain mindful not to scare away investment into the sector,” he emphasized.
With new interest from major energy firms and reforms in the licensing regime, Ghana’s petroleum industry is expected to enter a new phase of exploration and investment.
Officials say the upcoming negotiations with Shell and other global players could unlock significant offshore potential and drive local value creation through technology transfer, job creation, and local procurement.
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