Dr. Yussif Sulemana, Technical Advisor to the Ministry of Energy and Green Transition, said that extending the Jubilee and TEN Petroleum agreements will attract more money into Ghana's oil industry.
He explained this move will help the country's oil production. It seeks to stop the current reduction in output.
The extended agreements cover the Jubilee, Tweneboa, Enyenra, and Ntomme oil fields. These fields are important for Ghana's economy.
The government believes new investments will help these fields produce more oil. Increased production is expected to benefit Ghana.