ACCRA, Ghana, 27 February: President John Dramani Mahama has announced a major expansion in Ghana’s petroleum sector, unveiling a $2 billion investment agreement to scale up oil production and strengthen national energy security.
Delivering his 2026 State of the Nation Address, the President disclosed that government has signed a Memorandum of Understanding with partners in the Jubilee Field to drill up to 20 new wells, a move expected to significantly increase crude output, boost export earnings, and enhance domestic energy supply.
In addition, a separate $1.5 billion agreement has been secured to accelerate development of the Offshore Cape Three Points (OCTP) field, further consolidating Ghana’s oil and gas production capacity and supporting long-term energy sustainability.
President Mahama described the twin agreements as strategic investments that will deepen investor confidence, create jobs, and generate additional revenue for national development.
On the aviation front, the President reported strong growth in passenger traffic, with the Ghana Airports Company Limited recording an increase from 3.4 million passengers in 2024 to 3.625 million in 2025.
To address rising demand and ease congestion, government will remodel Terminal 2 at Accra International Airport into a dual-purpose facility serving both domestic and international flights.
The expansion will improve operational efficiency and enhance the passenger experience.
Work is also set to begin on new regional airports in Sunyani, Bolgatanga, and Wa, aimed at expanding connectivity, promoting tourism, and supporting regional economic growth.
The President said the combined investments in oil production and aviation infrastructure reflect government’s broader strategy to position Ghana as a competitive energy hub and a leading aviation gateway in West Africa.
Story by: Emmanuel Romeo Tetteh(#RomeoWrites✍️)/Ahotoronline.com | Ghana 🇬🇭