Eni SpA E, the Italian energy giant, and the Ghana National Petroleum Corporation (“GNPC”) have reinforced their strategic partnership to expand opportunities in Ghana’s oil and gas sector. The renewed commitment was highlighted during a high-level meeting between GNPC’s newly appointed CEO, Kwame Ntow Amoah, and Eni Ghana’s managing director, Maurizio Pinna, in Accra.

The discussions centered on optimizing existing assets, accelerating production and identifying new exploration prospects. GNPC emphasized that this collaboration aligns with its strategy to maximize hydrocarbon resources while adapting to the shifting global energy landscape.

Ntow Amoah acknowledged Eni’s contributions to Ghana’s energy industry and underscored the importance of leveraging both companies’ expertise to develop untapped reserves, sustain output and address production declines. He emphasized that the strengthened partnership would drive long-term value for Ghana’s petroleum sector.

Pinna emphasized Eni’s dedication to advancing Ghana’s energy ambitions, highlighting that stronger collaboration would drive transformative initiatives to elevate the country’s position in the global energy market.

Both parties agreed to pursue joint ventures, integrate advanced technologies and invest in local capacity building to enhance Ghana’s energy infrastructure. Eni’s presence in Ghana includes the Offshore Cape Three Points project, which produces both oil and natural gas for local consumption. The company also operates the Sankofa and Gye Nyame gas fields, which are linked to the FPSO John Agyekum Kufuor.

With this renewed collaboration, Eni and GNPC aim to strengthen Ghana’s energy sector while ensuring sustainable development and economic growth.

E’s Zacks Rank & Key Picks

E currently has a Zack Rank #3 (Hold).

Investors interested in the energy sector may look at some better-ranked stocks like Antero Resources Corporation AR, NextDecade Corporation NEXT and EOG Resources, Inc. EOG. While Antero Resources presently sports a Zacks Rank #1 (Strong Buy), NextDecade and EOG Resources carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

Antero Resources, one of the fastest-growing natural gas producers in the United States, boasts a strategic acreage position in the low-risk properties of the Appalachian Basin. The company has more than two decades of premium low-cost drilling inventory in the prolific basin, securing a strong production outlook. AR is well-positioned to capitalize on the increasing demand for LNG, both in the United States and globally. 

NextDecade is an emerging player in the LNG space with its Rio Grande LNG project in Texas. As demand for LNG continues to grow, the company’s strategic investments in infrastructure and its planned liquefaction capacity provide strong upside potential. With the global LNG market expanding, NEXT is well-positioned to tap into the increasing export demand from the United States.

EOG Resources is an oil and gas exploration and production company with an attractive growth profile, upper-quartile returns and a disciplined management team. With highly productive acreages in premier oil shale plays like the Permian and Eagle Ford, the company has numerous untapped high-quality drilling sites. Additionally, EOG maintains a strong balance sheet and continues to reward shareholders with regular and special dividends. 

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Eni SpA (E) : Free Stock Analysis Report

EOG Resources, Inc. (EOG) : Free Stock Analysis Report

Antero Resources Corporation (AR) : Free Stock Analysis Report

NextDecade Corporation (NEXT) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research