The Ghana National Petroleum Corporation (GNPC) has restated its commitment to achieving full operatorship as it continues to strengthen technical competence, institutional resilience, and financial sustainability.
This assurance was given at the Corporation’s Second Annual General Meeting (AGM) held at the Marriott Hotel in Accra under the theme “Consolidating Our March Towards Operatorship”.
The meeting brought together representatives from the Ministry of Finance, the State Interests and Governance Authority (SIGA), members of the GNPC Board, management, and other key stakeholders.
Members received and considered GNPC’s 2024 Annual Report, which outlined the Corporation’s operational and financial performance for the year under review. The report reflected steady performance, including stable oil production, increased gas exports, and significant progress on strategic projects.
Delivering the keynote address, the Minister for Energy and Green Transition, Hon. John Abdulai Jinapor, MP, commended GNPC for its continued role in safeguarding Ghana’s petroleum interests. He urged the Corporation to accelerate capacity-building efforts towards operatorship.
“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,” the Minister stated.
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He also highlighted government interventions to address industry challenges including declining oil production, low investment inflows, and gas infrastructure gaps. The Minister assured that the Ministry of Finance and Energy are collaborating to resolve GNPC’s gas debt exposure and ensure long-term financial stability.
GNPC Board Chairman, Prof. Joseph Oteng-Adjei, said the Corporation’s performance demonstrated resilience and focus in advancing its operatorship agenda.
“Our focus remains building technical competence, institutional strength, and financial prudence to sustain GNPC’s long-term value,” he stated.
Acting Chief Executive Officer, Mr Kwame Ntow Amoah, presented the operational performance highlights, noting that whilst oil production saw a marginal decline of 0.3 per cent, gas exports rose by 10 per cent. He cited steady progress on the Research and Technology Centre, commissioning of GNPC’s Energy House (Operational Head Office) in Takoradi, revitalisation of EXPLORCO, and progress on the Voltaian Basin Project as major milestones.
“We are building a GNPC that is technically competent, commercially agile, and strategically positioned to secure Ghana’s energy future,” Mr Amoah emphasised.
The AGM also highlighted GNPC’s 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.
Concluding the meeting, the Deputy Minister for Energy and Green Transition, Hon. Richard Gyan, reiterated the government’s confidence in GNPC’s leadership and pledged continued support from the Ministry to ensure the Corporation’s operational and financial success.
The meeting was brought to a close with members considering and voting on significant resolutions.
About GNPC
The Ghana National Petroleum Corporation (GNPC) is the state-owned oil company mandated to explore, develop, and manage Ghana’s petroleum resources. GNPC continues to play a pivotal role in ensuring energy security, promoting sustainable development, and positioning Ghana as a competitive player in the global energy industry.
