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The Petroleum Hub Development Corporation (PHDC) has signed a US$28 billion Build-Own-Operate partnership agreement with an international consortium led by UAE-based Global Sphere for the second phase of the Jomoro Petroleum Hub project.
The agreement, signed in Accra on October 19, 2026, covers Lot Two of the development and advances Ghana’s ambition to establish a major petroleum processing and distribution center in West Africa.
The proposed infrastructure includes a refinery, petrochemical plants, storage facilities and marine facilities. These components form part of the wider master plan to develop an integrated energy hub in Jomoro.
Under the Build-Own-Operate arrangement, the partnership is intended to draw on international investment and technical expertise to deliver and operate the facilities.
The project aims to strengthen Ghana’s position in the regional petroleum industry by bringing processing, storage and marine operations together within a single development.
Following the signing, preparations are continuing towards financial close, land compensation and construction planning. These steps remain central to moving the agreement into implementation.
The US$28 billion figure represents the value of the announced partnership, with financing arrangements and other preparatory requirements still to be completed before construction proceeds.
Source: Omanghana
