Fall in global oil prices as a result of supply glut is prompting the cancellation of a string of major investment projects.
Addressing Parliament in Accra Tuesday 2 February, 2016, Matteo Renzi said "We know this is a moment very difficult for oil prices, but I’m here and I host in the delegation, the CEO of ENI… to give a message of continuation and presence of Italian investors in this country."
“Let me be very clear, ENI has a historical connection to Ghana, but this project, a new project will be a game-changer for power generation in the country, bring benefits from here to 2086," he added.
Matteo Renzi also told parliament his country is passionate about investing in "open democracies" in Africa including Ghana.
He also urged other Europen countries to invest in Africa to send the right signals to future generations.
“Europe must invest in Africa in order to send the right message to future generations,” he said
The former three are non-associated gas fields while the latter two are oil fields. The development of the fields started in January 2015.