A Memorandum of Understanding (MoU) pertaining to the purchase of petroleum exploration and production rights over the South Deepwater Tano Block has been signed by the Ghanaian government, the Ghana National Petroleum Corporation (GNPC), Shell Overseas Holdings Limited, and Chevron Sub-Saharan Africa Ventures Ltd.
The deal was signed on September 3 at the beginning of Africa Oil Week (AOW) 2026 in Accra, which brought together important players in the worldwide energy sector and Ghana’s petroleum industry.
Kwame Ntow Amoah, the CEO of GNPC, signed the Memorandum of Understanding on behalf of the Corporation, which is a significant milestone in Ghana’s endeavors to promote exploration and production activities within its offshore petroleum resources.
The South Deepwater Tano Block is situated in Ghana’s fertile Tano Basin, which has drawn a lot of attention from big multinational oil and gas firms due to its potential for petroleum.
It is anticipated that the engagement of Shell Overseas Holdings Limited and Chevron Sub-Saharan Africa Ventures Ltd. will increase foreign involvement in Ghana’s upstream petroleum sector while also possibly contributing more operational capacity, investment, and technological know-how.
The MoU gives the parties a framework for advancing conversations and procedures about the purchase of the production and exploration rights. It is anticipated that additional contractual and regulatory procedures will be completed prior to the transaction’s complete completion.
Halliburton And The Petroleum Commission Ink Historic Partnership Deal
Developments in the upstream petroleum sector continue to be crucial for Ghana’s attempts to maximize the economic advantages of the nation’s natural resources, draw in new investment, increase oil and gas production, and generate job opportunities.
The signing also underscores the government’s continued engagement with international energy companies as Ghana seeks to sustain investor confidence in its petroleum industry and unlock new opportunities in offshore exploration.
With global energy markets undergoing significant changes and increasing attention being placed on energy security and investment, Ghana’s ability to attract credible partners and develop its remaining petroleum resources will remain a key component of the country’s broader energy strategy.
The South Deepwater Tano development could therefore become an important addition to Ghana’s upstream petroleum portfolio as the country works to maintain production and explore new opportunities in its offshore basins.