Dr. Yussif Sulemana, Technical Advisor to the Ministry of Energy, explained the benefits of extending the Jubilee and Tweneboa, Enyenra, and Ntomme (TEN) Petroleum agreements.
He noted that this extension would attract new investments into Ghana's upstream oil and gas industry. This funding is needed to address the current slowdown in petroleum production.
Dr. Sulemana emphasized that increased investment is vital for the long-term health and growth of the sector. The agreements cover significant oil and gas fields off Ghana's coast.
The extension aims to ensure continued exploration and production activities. This strategy seeks to secure Ghana's energy future and boost economic development.
The Ministry of Energy believes this decision will create stability and confidence for investors. This will lead to more job opportunities and revenue for the nation.