The Ghana National Petroleum Corporation (GNPC) has reaffirmed its commitment to achieving full operatorship in Ghana’s upstream petroleum sector as part of its efforts to consolidate its technical capacity, institutional strength, and financial sustainability.
This pledge was made during the Corporation’s second Annual General Meeting (AGM) held in Accra and themed “Consolidating Our March Towards Operatorship.”
The meeting was attended by representatives from the Ministry of Finance, the State Interests and Governance Authority (SIGA), the GNPC Board, management and other key stakeholders. Members considered and adopted the Corporation’s 2024 Annual Report, which detailed its operational and financial performance for the year. The report showed stable oil production, a 10 per cent increase in gas exports, and significant progress on strategic projects.
Delivering the keynote address, the Minister for Energy and Green Transition, John Abdulai Jinapor, commended GNPC for its continued role in protecting Ghana’s petroleum interests. He encouraged the Corporation to accelerate efforts towards building the capacity required to operate oil and gas blocks independently.
“The Corporation serves as the state's eye in upstream partnerships. The energy transition makes capacity building a necessity, and GNPC must continue to develop the expertise needed to operate blocks independently and sustainably,” Mr Jinapor said.
He outlined the government’s interventions aimed at addressing challenges facing the energy sector, including declining oil production, low investment inflows and gaps in gas infrastructure. The Minister further assured that the Ministries of Energy and Finance were collaborating to address GNPC’s gas debt exposure and secure long-term financial stability for the state oil firm.
The Board Chairman of GNPC, Professor Joseph Oteng-Adjei, said the Corporation had shown resilience and discipline in its pursuit of operatorship. “Our focus remains building technical competence, institutional strength, and financial prudence to sustain GNPC's long-term value,” he said.
Acting Chief Executive Officer, Kwame Ntow Amoah, presented key operational highlights, noting that while oil production experienced a marginal decline of 0.3 per cent, gas exports increased by 10 per cent. He cited progress on major projects including the commissioning of GNPC’s Energy House in Takoradi, revitalisation of EXPLORCO, development of the Research and Technology Centre, and advancements in the Voltaian Basin Project.
“We are building a GNPC that is technically competent, commercially agile, and strategically positioned to secure Ghana's energy future,” Mr Amoah emphasised.
The Corporation also reaffirmed its commitment to environmental sustainability through the integration of Environmental, Social and Governance (ESG) principles and alignment with Ghana’s Updated Nationally Determined Contributions (NDCs) under the Paris Agreement.
Closing the meeting, the Deputy Minister for Energy and Green Transition, Richard Gyan, expressed the government’s confidence in GNPC’s leadership and pledged continued support to ensure the Corporation’s operational and financial success.
The AGM concluded with members voting on key resolutions aimed at strengthening GNPC’s operational efficiency and strategic direction.
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