Nearly $2 billion in new investment expected to boost Ghana’s gas production – Mahama
President John Dramani Mahama has announced that nearly $2 billion in new investment is expected from Tullow Oil and its Jubilee partners to expand gas production in Ghana, a move aimed at strengthening the country’s energy security and supporting industrial growth.
Speaking at the Ghana-UK Investment Summit 2026 in London, President Mahama said the investment forms part of his government’s broader strategy to enhance energy infrastructure, improve power reliability and support Ghana’s long-term economic transformation agenda.
According to him, the global transition toward sustainable growth and cleaner energy presents significant opportunities for investment, and Ghana is positioning itself to benefit through strategic partnerships in both conventional and renewable energy sectors.
“We are investing heavily in energy infrastructure, gas development, power reliability, renewable energy expansion and grid modernization,” President Mahama stated.
He disclosed that ongoing discussions with Tullow Oil and its Jubilee field partners are expected to result in an injection of almost $2 billion into new drilling activities aimed at unlocking additional gas resources for the country’s power sector.
“And then we’re engaged with Tullow and Jubilee partners who will see an injection of almost two billion dollars into additional new drilling to unlock more gas for Ghana’s power sector,” he said.
The President noted that the anticipated increase in gas production will help provide a more reliable and affordable fuel source for electricity generation, reducing dependence on imported fuels and supporting the country’s industrialization drive.
To complement the expected expansion in gas output, Mahama revealed that the government is moving ahead with plans to construct a second gas processing plant to handle the additional volumes and ensure efficient utilization of the resource.
“Government is going ahead with the second gas processing plant to take on this additional gas,” he added.
The announcement comes as Ghana seeks to strengthen its position as an energy investment destination while balancing the development of its natural gas resources with investments in renewable energy and climate-resilient infrastructure.
Mahama told investors that the energy sector remains one of the most promising areas for investment, with opportunities in gas infrastructure, power generation, renewable energy, clean transportation and emerging battery value chains.
He emphasized that a stable and reliable energy supply is critical to supporting the government’s flagship 24-Hour Economy initiative, expanding manufacturing activity and boosting economic growth.
