Joshua Batsa Narh, the Executive Chairman of the Energy Chamber Ghana and Director at Wingfield Group, recently outlined the opportunities and challenges facing Ghana’s oil and gas sector in an exclusive interview with the Vaultz News.
According to Mr. Narh, Ghana’s oil and gas industry will encounter a dynamic and evolving global landscape in 2025 and beyond, with success hinging on strategic positioning to seize opportunities while navigating emerging challenges.
“With a growing focus on gas-to-power solutions globally, Ghana can leverage its gas reserves, particularly from the Jubilee and TEN fields, to address both domestic energy needs and export potential.
“The government’s push for a gas master plan could open doors to increased power generation, reducing reliance on hydropower and improving energy security.”
Joshua Batsa Narh, Executive Chairman of the Energy Chamber Ghana
Mr. Narh acknowledged the emerging technologies like Artificial Intelligence (AI) and Machine Learning (ML) are revolutionizing the global exploration and production (E&P) landscape.
“Ghana should encourage partnerships with international oil companies (IOCs) and tech firms to deploy these innovations and increase operational efficiency,” he added.
According to Mr. Narh, while global focus is shifting toward renewables, natural gas is increasingly recognized as a critical transition fuel.
Ghana has the potential to lead Africa’s cleaner energy agenda by investing in pipelines, LNG terminals, and other infrastructure that supports natural gas development. This strategy not only aligns with global energy trends but also enhances Ghana’s positioning as a key player in Africa’s energy transition.
“Ghana remains an attractive destination for FDI due to its stable political environment and transparent regulatory framework.
“As the oil and gas sector in countries like Angola and Nigeria faces operational challenges, Ghana’s stable governance and open investment policies make it a competitive player for oil and gas investments.”
Joshua Batsa Narh, Executive Chairman of the Energy Chamber Ghana
Challenges for Ghana’s Oil and Gas Sector
Recognizing the challenges in the sector, Mr. Narh noted that the global pivot toward renewable energy has significantly reduced capital availability for oil and gas projects.
Companies like BP and Shell are cutting back on fossil fuel investments, making it more difficult for emerging producers like Ghana to secure funding for new projects.
“Ghana faces challenges in its midstream and downstream infrastructure, including inadequate pipelines, storage facilities, and refining capacity.
“The underutilization of the Tema Oil Refinery (TOR) highlights the need for operational upgrades to meet domestic and regional demand effectively.”
Joshua Batsa Narh, Executive Chairman of the Energy Chamber Ghana
He further revealed that investors are increasingly prioritizing Environmental, Social, and Governance (ESG) compliance in their decision-making processes.
“Ghana must address concerns about oil spills, flaring, and emissions to remain an attractive destination for responsible investment,” he noted.
Strategic Recommendations for Ghana
To remain competitive and resilient, Mr. Narh suggested that Ghana should accelerate the development of renewable energy projects such as solar, wind, and hydro.
Simultaneously, leveraging its natural gas reserves for power generation will help bridge the gap between conventional and renewable energy sources.
“Strengthening regulatory transparency, predictability, and consistency will enhance investor confidence.
“The country should focus on creating a more investor-friendly environment through clear licensing procedures, efficient permitting systems, and incentives for new technology adoption.”
Joshua Batsa Narh, Executive Chairman of the Energy Chamber Ghana
Moreover, he indicated that expanding and modernizing infrastructure in oil, gas, and renewable energy projects will be crucial to sustaining growth.
“Ghana should prioritize investment in pipeline systems, LNG terminals, and storage facilities, as well as exploring opportunities for regional integration to increase export capacity.”
Joshua Batsa Narh, Executive Chairman of the Energy Chamber Ghana
Collaborations with IOCs, technology providers, and energy firms are critical to driving innovation and attracting capital. By partnering with global leaders, Ghana can adopt best practices, enhance operational efficiency, and position itself as a model for resource-rich developing countries.
“Angola’s approach to conducting transparent and competitive oil licensing rounds could be a model for Ghana to attract more international investors.
“Ghana should continue to streamline its exploration licensing processes to maximize its resource potential and ensure fair competition.”
Joshua Batsa Narh, Executive Chairman of the Energy Chamber Ghana
The UAE has made significant strides in balancing its oil and gas resources with investments in renewables.
“Ghana can adopt similar strategies by channeling oil and gas revenues into green energy projects, positioning itself as both a conventional and renewable energy leader,” Mr. Narh noted.
Ghana’s oil and gas sector is poised for significant growth and transformation in 2025 and beyond.
While challenges such as declining fossil fuel investments, infrastructure deficits, and environmental pressures persist, opportunities in gas diversification, technological innovation, and FDI present promising avenues for advancement.
By implementing strategic reforms, fostering partnerships, and prioritizing infrastructure development, Ghana can navigate the evolving global energy landscape and emerge as a key player in Africa’s energy future.
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