Energy analysts say the development is expected to boost national revenue and stimulate local economic growth.

The Ministry of Energy and Green Transition announced that the declaration follows the successful completion of the Eban-Akoma Appraisal Programme, which confirmed the commercial viability of hydrocarbons in the Eban 1X and Akoma 1X wells.

Speaking to Citi Business News, Executive Director of the Centre for Environmental Management and Sustainable Energy, Benjamin Nsiah, commended the government for the discovery and its positive impact on Ghana’s upstream petroleum sector.

“This is a new way of attracting international oil companies into our upstream sector,” he said. “The confirmation of the commercial viability of these reserves will encourage new players to invest capital—especially liquidity—into further exploration and development.”

Nsiah added that the discoveries would contribute significantly to revenue generation and job creation.

“Developing these fields means engaging both local and international human resources,” he explained. “This workforce will, in turn, drive growth in the local economies where operations will take place. It’s a win for national development.”