Ghana's Petroleum Hub Development Corporation (PHDC) Joins Accra Investor Briefing Amid Efforts to Establish Integrated Petroleum Hub
Dr. Toni Aubynn, CEO of Ghana's Petroleum Hub Development Corporation (PHDC), has joined the Invest in African Energies: Accra Investor Briefing – taking place on April 14, 2025 at the Kempinsky Hotel – to discuss the country's progress towards becoming an integrated petroleum hub in West Africa. During the event, Dr. Aubynn will outline development strategies, investment avenues and petroleum market trends, underscoring the value of investing in Ghana's growing oil and gas value chain.
Expecting to launch 17 oil and gas projects by 2027, Ghana is prioritizing investments across the entire hydrocarbon value chain to meet rising domestic demand, increase revenue generation and unlock greater value from the petroleum sector. Strategically located and with over 1.1 billion barrels of proven oil reserves and 2.1 trillion cubic feet of natural gas, the country is well-positioned to become a regional hub for petroleum. Ghana's PHDC strives to position the country as an integrated hub in West Africa. Established under the Petroleum Hub Development Corporation Act, 2020, the company promotes the development of a petroleum and petrochemical hub in Ghana, leveraging innovative technology to develop a value chain that create economic linkages and provides business opportunities for Ghanaians.
In August 2024, the PHDC and a consortium of private partners broke ground on the development of the first phase of a $60 billion downstream petroleum hub. The hub represents the first of its kind in West Africa and will be developed across three phases between 2024 and 2036. The first phase – at a cost of $12 billion - comprises 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. Phase one is situated across 6,590 acres in the Jomoro municipal district. Following its completion, the integrated hub will have the capacity to process 900,000 bpd of crude across three 300,000-bpd refineries. Each refinery has the potential to be expanded to 500,000 bpd, targeting an overall production capacity of 1.5 million bpd.
Additionally, following the completion of all three phases, the hub will feature five multi-purpose petrochemical plants with a production capacity of 90,000 bpd each. The plants will produce chemicals such as fertilizers, lubricants and cosmetics, utilizing natural gas as feedstock. Phase 1 will include the development of one petrochemical plant while the second and third will see two plants constructed each. The integrated hub showcases the value of public-private partnerships in advancing large-scale oil and gas projects in Africa. Spearheaded by the PHDC, the hub is supported by global and regional partners, including Touchstone Capital Group Holdings, UIC Energy Ghana, China Wuhan Engineering and China Construction Third Engineering Bureau.
'Ghana's integrated petroleum hub should serve as a benchmark for other resource-rich nations in Africa. This innovative project is poised to become a strategic catalyst for economic growth – both in Ghana and across the broader region. The hub will create jobs, increase petroleum distribution, promote skills development and position Ghana as a central point for petroleum production in Africa. The hub is a testament to the role public-private collaboration can play in advancing African oil and gas projects,' stated NJ Ayuk, Executive Chairman of the African Energy Chamber.
The Invest in African Energies: Accra Investor Briefing in April offers a strategic opportunity for the PHDC to not only provide an update on the development of the hub, but showcase associated investment opportunities. The integrated hub is a large undertaking, requiring significant levels of finance and technological expertise. Investors will have the chance to gain first-hand insight into the PHDC's ambitions in Ghana, laying the foundation for new deals to be signed.
Distributed by APO Group on behalf of African Energy Chamber.
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