President John Dramani Mahama has announced major strides in Ghana’s energy sector, revealing new oil and gas developments and the approval of a second gas processing plant that he says will strengthen the country’s energy security, create jobs, and cut reliance on costly imported fuel.
Speaking at his first media encounter since assuming office, the President confirmed that the Ministry of Energy had declared the commercial viability of the Eban-Akuma oil and gas discoveries in Cape Three Points Block 4.
“This paves the way for the joint venture partners E&I Vitor Woodfields and the Ghana National Petroleum Corporation to proceed with a full plan of development of this oil well.”
President John Dramani Mahama
The President described the move as a critical milestone that will bring far-reaching benefits for the nation. According to him, the Eban-Akuma project is expected to boost crude and natural gas production, expand employment opportunities, and enhance domestic energy security.
“This milestone brings us closer to increased oil and gas production, job creation, and enhanced energy security, reinforcing our commitment to responsible resource management for the benefit of all Ghanaians.”
President John Dramani Mahama
Once developed, the Eban-Akuma discoveries could significantly augment Ghana’s output, reducing dependence on imports and strengthening the country’s position as a regional energy hub.
Second Gas Processing Plant Approved
President Mahama also announced cabinet approval for the construction of a second gas processing plant, known as GPP-2. The facility, he explained, will double national gas processing capacity and provide a more stable, cost-effective energy supply for the country.
“We’ve also approved the construction of a second gas processing plant, GPP-2, to double our national processing capacity and set the stage for cheaper, cleaner, and more reliable power generation.”
President John Dramani Mahama
The new plant, projected to save Ghana nearly US$500 million every two years, will help curb the heavy dependence on imported liquid fuels, which have long weighed on the country’s balance of payments and exposed the economy to global price fluctuations.
The President emphasized, “Beyond the cost reduction, it is projected to create over 1,000 direct and indirect jobs, fueling both industry and livelihoods,” underscoring the broader social and economic benefits of the investment.
Dumsor Averted
Reflecting on the country’s recent power challenges, President Mahama reassured Ghanaians that his government had taken decisive steps to prevent the recurrence of the crippling power outages known locally as dumsor.
“We can all attest to the fact that the looming threat of ‘DUMSOR’ we inherited in January this year has been averted.
“Through strategic interventions and swift action, power supply has remained stable across the country, ensuring uninterrupted electricity for households, businesses, and essential services.”
President John Dramani Mahama
The stability of electricity supply, he noted, has already had a tangible impact on businesses and ordinary citizens, helping restore confidence in the economy while providing a more predictable environment for investment and growth.
Broader Energy Vision
President Mahama positioned these developments as part of his administration’s broader strategy to ensure reliable and affordable power for Ghanaians.
The expansion of gas processing infrastructure, alongside new oil and gas discoveries, signals a long-term commitment to leveraging domestic resources for national development.
He also reaffirmed his government’s dedication to responsible energy governance, noting that the sector’s transformation must not only deliver growth but also meet environmental and social responsibilities.
Observers say that while challenges remain, including financing, regulatory hurdles, and global market volatility, the steps outlined by the President suggest a clear direction for Ghana’s energy future.
For local communities in the Western Region, where much of Ghana’s offshore oil and gas production is concentrated, the announcements bring renewed hope for jobs, infrastructure, and improved living standards.
For now, President Mahama insists the country is on the right path, reflecting the optimism that Ghana’s oil and gas resources, if well managed, can indeed power economic transformation.
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