Ghana Launches $3.5bn Investment in Energy Sector

Ghana has unveiled a significant $3.5 billion investment to enhance its energy sector, which includes the groundbreaking ceremony for the phase 2 Sentuo Oil Refinery project located in Tema. This investment is part of a comprehensive roadmap to revitalize the country's oil industry, which has already shown promising results.

President Mahama noted that the state intervention has led to a record net increase in crude oil production for the first time in several years. Reports indicate that the output from the Jubilee Field has risen to 100,000 barrels per day, marking a significant gain.

Additionally, the Sankofa Field is being developed as part of the government's growth strategy, which includes the commercialization of the Afina discovery and the ratification of a new petroleum agreement in the offshore Tano West Basin.