Ghana courts Canadian investment in upstream oil and gas sector

Ghana is intensifying efforts to attract Canadian investment into its upstream oil and gas sector, positioning itself as a stable and competitive destination for global energy capital amid changing dynamics in the international energy market.

The push comes as geopolitical tensions, supply disruptions, and shifting investment priorities continue to reshape the global energy landscape, prompting investors to seek opportunities beyond traditional hydrocarbon-producing regions.

Ahead of the main stage event at the 2026 Global Energy Summit in Canada, officials of the Petroleum Commission held strategic engagements with prospective investors interested in opportunities within Ghana’s upstream oil and gas industry, particularly in the onshore Voltaian Basin.

At the Commission’s exhibition booth, officials showcased Ghana’s onshore and offshore petroleum basins and outlined investment opportunities available across the country’s hydrocarbon sector.

 Leading Ghana’s participation at the summit is the Chief Executive Officer of the Petroleum Commission, Emeafa Hardcastle, who is spearheading discussions aimed at strengthening strategic partnerships between Ghana and Canada to unlock investment opportunities for the mutual benefit of both countries.

Speaking at the event, Ms Hardcastle said recent volatility in global energy markets had heightened the importance of energy security, supply reliability and diversification, creating new opportunities for countries such as Ghana.

“Ghana offers significant hydrocarbon potential across mature, frontier, onshore and offshore basins,” she said.

“We are taking practical steps to improve competitiveness and create an enabling environment for responsible investment,” she added.

Ms Hardcastle highlighted Ghana’s strong bilateral relations with Canada, noting that both countries operate under common law legal systems, providing investors with a familiar and predictable regulatory framework.

She pointed to previous collaborations between the two countries, including partnerships that enabled Ghanaian welders to receive specialised training and certification from the Northern Alberta Institute of Technology (NAIT).

According to her, Ghana is seeking to deepen cooperation by attracting Canadian expertise in advanced oilfield technologies, gas development and infrastructure expansion.

She said the country is exploring technologies to improve hydrocarbon recovery, enhance operational efficiency, strengthen field monitoring systems and improve environmental and safety performance.

The Petroleum Commission CEO also noted that increasing domestic demand for electricity and industrial development is creating significant opportunities for investment in gas infrastructure, including pipelines and processing facilities.

She outlined several opportunities available to investors, including farm-in arrangements, appraisal programmes and open acreage in the Tano Basin and the Accra-Keta Basin.

Particular attention was drawn to the onshore Voltaian Basin, which covers about 40 per cent of Ghana’s landmass and has attracted growing investor interest following the acquisition of seismic and geological data by the national oil company.

Ms Hardcastle said preliminary assessments of the basin indicate promising petroleum potential and evidence of an active petroleum system.

She disclosed that plans are underway to drill the first exploration well in the basin between the fourth quarter of 2026 and the first quarter of 2027, a move expected to reduce geological uncertainty and boost investor confidence.

“Ghana is open for business. We warmly invite you to come on board and choose Ghana as your preferred destination for environmentally sustainable hydrocarbon investment,” she said.

With three producing offshore fields already operating in the Western Basin, Ghana continues to pursue initiatives aimed at reducing exploration risks and expanding investment in its petroleum sector.

The 2026 Global Energy Show, held under the theme “Capitalising on Canada’s Energy Leadership,”brings together policymakers, investors, energy executives, technology providers and innovators from around the world to discuss emerging industry trends, showcase technological innovations and foster international partnerships.

Source: gna.org.gh