Dr. Toni Aubynn, the CEO of Ghana’s Petroleum Hub Development Corporation (PHDC), will be a key speaker at the upcoming Invest in African Energies: Accra Investor Briefing on April 14, 2025. The event, set to take place at the Kempinsky Hotel, will focus on Ghana’s progress towards establishing itself as an integrated petroleum hub in West Africa. Dr. Aubynn will discuss development strategies, investment opportunities, and market trends in the oil and gas sector, emphasizing the benefits of investing in Ghana’s expanding energy value chain.
With plans to launch 17 oil and gas projects by 2027, Ghana is actively seeking investments across the entire hydrocarbon value chain to meet growing domestic demand, boost revenue generation, and maximize the potential of the petroleum industry. Boasting over 1.1 billion barrels of proven oil reserves and 2.1 trillion cubic feet of natural gas, Ghana is strategically positioned to become a central hub for petroleum activities in the region. The PHDC, established under the Petroleum Hub Development Corporation Act, 2020, is leading efforts to position Ghana as a key player in the West African petroleum market by fostering economic linkages and creating business opportunities for local stakeholders.
In August 2024, the PHDC, in collaboration with a consortium of private partners, commenced the development of the first phase of a groundbreaking $60 billion downstream petroleum hub. Spanning three phases scheduled between 2024 and 2036, the initial phase, costing $12 billion, includes the construction of a 300,000 barrel per day (bpd) refinery, a 90,000-bpd petrochemical plant, storage tanks with a total capacity of three million cubic meters, a jetty, and marine port infrastructure. Situated across 6,590 acres in the Jomoro municipal district, phase one is set to pave the way for a fully integrated hub capable of processing up to 900,000 bpd of crude oil across three 300,000-bpd refineries, with potential for expansion to 500,000 bpd each, targeting an overall production capacity of 1.5 million bpd.
Upon completion of all three phases, the hub will house five multi-purpose petrochemical plants, each with a production capacity of 90,000 bpd, producing chemicals like fertilizers, lubricants, and cosmetics using natural gas as feedstock. Phase 1 will see the establishment of one petrochemical plant, with the subsequent phases adding two plants each. This ambitious project exemplifies the power of public-private partnerships in advancing large-scale oil and gas ventures in Africa, with key support from global and regional partners such as Touchstone Capital Group Holdings, UIC Energy Ghana, China Wuhan Engineering, and China Construction Third Engineering Bureau.
NJ Ayuk, Executive Chairman of the African Energy Chamber, hailed Ghana’s integrated petroleum hub as a model for resource-rich nations across Africa. The project is poised to drive economic growth, create jobs, enhance petroleum distribution, foster skills development, and position Ghana as a pivotal hub for petroleum production on the continent. The success of the hub underscores the importance of collaboration between the public and private sectors in advancing African energy projects.
The upcoming Invest in African Energies: Accra Investor Briefing presents a prime opportunity for the PHDC to update stakeholders on the hub’s progress and showcase potential investment prospects. Given the scale of the integrated hub project and the need for substantial financing and technical expertise, investors attending the event will gain valuable insights into Ghana’s energy ambitions, paving the way for new partnerships and agreements to be forged.
This article was originally distributed by APO Group on behalf of the African Energy Chamber.
