Minister assures investors of regulatory stability in energy sector as offshore drilling resumes

Energy Minister John Jinapor has promised to improve regulatory stability in Ghana's power and petroleum sectors. He announced the resumption of offshore drilling, showing growing investor confidence.

Mr. Jinapor spoke at the West Africa Mining and Power Expo in Accra. He shared plans for reliable electricity to support industrial growth. He also mentioned diversifying the nation's energy mix.

"After a long time, drilling activities have resumed in Ghana's offshore basin," he said on May 28. This signals renewed investor confidence in Ghana's upstream petroleum sector. The government is implementing measures to revitalize the industry.

The Minister emphasized the need for stable power supply, especially for mining: "Power fluctuations can halt activities and damage equipment."

Jinapor outlined key initiatives, including infrastructure upgrades and policy reforms. "We aim for regulatory certainty and predictability for investors," he stated. With partners like GridCo and VRA, they are investing in transmission upgrades. They are also diversifying energy sources with renewables and promoting battery storage.

He revealed steps to improve power distribution: "I've approved ECG to add about 200 new transformers." This will help ensure effective power transmission and distribution in major cities.

Jinapor reported positive news on generation capacity: "Despite challenges, power generation has been stable." Ghana has even begun exporting some power. Improving the transmission network remains a priority.

The Minister called for collaboration to support economic growth: "It’s my duty to ensure a stable power supply for optimal machine operation."

This announcement comes as Ghana aims to become a regional energy hub. The three-day expo attracted thousands of mining and energy professionals from West Africa.