The Government of Ghana has signed a major term sheet agreement with Eni Ghana E&P, Vitol Upstream Ghana Limited, and the Ghana National Petroleum Corporation to advance plans for the expansion of domestic gas production under the Offshore Cape Three Points (OCTP) project.
The agreement was signed on behalf of the government by John Abdulai Jinapor, alongside Finance Minister Dr. Cassiel Ato Forson.
The term sheet establishes a framework of commercial principles to support the development of new gas infrastructure under the Offshore Cape Three Points Non-Associated Gas (OCTP NAG) Upgrade Project.
The latest agreement follows a Memorandum of Intent signed in September 2025, which committed the parties to collaborate on strategic investments aimed at strengthening Ghana’s energy sector and increasing domestic gas supply.
Under the proposed expansion, gas production from the OCTP project is expected to increase by up to 350 million standard cubic feet per day by 2028.
The upgrade will be driven by the development of the Gye Nyame field, as well as the installation of a booster compressor and a new non-associated gas system on the project’s floating production storage and offloading vessel.
The project is expected to enhance Ghana’s energy security, reduce dependence on imported fuels and support rising demand from industries and households.
Speaking after the signing ceremony, Mr Jinapor described the agreement as a significant milestone for Ghana’s energy future.
“Today’s signing sends a strong signal that Ghana’s upstream petroleum sector remains open, stable and ready for investment,” he stated.
He added that the government remains committed to creating a predictable and competitive environment for investors while ensuring that the country’s natural resources are developed responsibly for the benefit of all Ghanaians.
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