CVX · News · 20260903N

Ghana Upstream Expansion

CHEVRON CORP · 2026-09-03 · Importance 31 · Surprise 42

Chevron and Shell signed a non-binding preliminary agreement with Ghana covering production rights in the South Deepwater Tano Cape Three Points oil and gas block. The agreement provides Chevron with a potential entry or expansion opportunity in Ghana’s deepwater upstream market. Ghana is reviewing its petroleum-sector legal and fiscal framework to attract investment and reverse declining production. Proposed reforms include reducing Ghana National Petroleum Corporation’s initial project interest and simplifying the tax regime.

Key facts

• The preliminary agreement with Ghana is non-binding and comes as Ghana reviews its petroleum sector's legal and fiscal framework, including proposals to reduce GNPC's initial interest and adopt a simpler tax regime. source