Ghana Boosts Oil Production, Expands Accra Airport Amid Record Traffic
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Ghana announced a $2 billion oil expansion and major airport upgrades to support record passenger growth and establish the nation as a key West African hub.
Key Takeaways
- •Secures a $2 billion investment to drill up to 20 new wells in the Jubilee oil field.
- •Announces expansion of Accra's Terminal 2 to handle passenger growth to 3.625 million.
- •Plans new regional airports in Sunyani, Bolgatanga, and Wa to boost domestic connectivity.
- •Aims to position Ghana as a leading West African energy and aviation hub through strategic investments.
The government of Ghana has announced a multi-billion-dollar investment initiative to expand the nation's petroleum and aviation sectors. The announcement was made by President John Dramani Mahama during his 2026 State of the Nation Address (SONA), outlining a strategy to bolster national energy security while accommodating record growth in air passenger traffic.
The dual investment aims to solidify Ghana's position as a competitive energy and aviation hub in West Africa. The plan includes significant capital injection into offshore oil fields and a comprehensive overhaul of airport infrastructure, most notably at Accra's Kotoka International Airport. These initiatives are a direct response to a surge in passenger numbers, which grew from 3.4 million in 2024 to 3.625 million in 2025, according to data from the Ghana Airports Company Limited (GACL).
Oil and Gas Expansion Details
A cornerstone of the economic plan is a $2 billion investment agreement with partners in the Jubilee Field. This funding is earmarked for the drilling of up to 20 new wells, a move projected to substantially increase crude oil output. According to a Kosmos Energy press release, license extensions for the Jubilee and TEN fields are expected to support this level of incremental investment.
In a separate but related development, a $1.5 billion agreement has been finalized to accelerate development of the Offshore Cape Three Points (OCTP) integrated oil and gas project. The OCTP project, located approximately 60 kilometers off Ghana's coast, has a significant production history. A Vitol press release confirms the project has produced over 107 million barrels of oil and 480 billion standard cubic feet of gas since 2018. President Mahama described the agreements as "strategic investments that will deepen investor confidence, create jobs, and generate additional revenue for national development."
Aviation Infrastructure Growth
To manage the increasing demand in air travel, the government has detailed extensive plans for its aviation infrastructure. The state-owned Ghana Airports Company Limited (GACL), which manages all airports in the country, will oversee the projects. The primary focus is the remodeling of Terminal 2 at Accra's Kotoka International Airport. The facility will be converted into a dual-purpose terminal capable of serving both domestic and international flights, aiming to ease congestion and improve operational efficiency.
The government's strategy extends beyond the capital. Work is also scheduled to commence on new regional airports in Sunyani, Bolgatanga, and Wa. These projects are intended to expand domestic connectivity, stimulate tourism, and support balanced regional economic growth throughout the country.
Strategic Context and Economic Impact
The simultaneous investments in energy and aviation reflect a broader government strategy to leverage public-private partnerships for large-scale infrastructure development. The initiatives are designed to be synergistic, with increased energy revenue helping to fund infrastructure projects that, in turn, make Ghana a more attractive destination for business and tourism.
This approach aligns with Ghana's established goal of becoming a leading West African aviation hub. By increasing airport capacity and improving passenger experience, the country aims to capture a larger share of regional and international air traffic. President Mahama stated that the combined investments reflect the government's "broader strategy to position Ghana as a competitive energy hub and a leading aviation gateway in West Africa."
What Comes Next
With the Memorandums of Understanding now signed, the next phase involves mobilizing resources and commencing drilling and construction activities. The development of up to 20 new wells in the Jubilee Field represents a multi-year project, with timelines for completion subject to operational and logistical schedules. Similarly, the work on the new regional airports and the remodeling of Accra's Terminal 2 will proceed in stages, with initial construction expected to begin in the near future.
Why This Matters
This dual-sector investment strategy signals a concerted effort by Ghana to link its natural resource wealth directly to the development of critical transport infrastructure. For the aviation industry, it promises a significant enhancement of airport capacity and passenger services, potentially altering competitive dynamics in the West African market. The success of this integrated approach could serve as a model for other resource-rich nations seeking to diversify their economies and improve global connectivity.
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Written by Ujjwal Sukhwani
Aviation News Editor & Industry Analyst delivering clear coverage for a worldwide audience. Covers flight operations, safety regulations, and market trends with expert analysis.
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