REIGNITING GHANA’S OIL FUTURE: GNPC’S BOLD NEW PLAN

The Acting CEO of the Ghana National Petroleum Corporation (GNPC), Mr. Kwame Ntow Amoah, has outlined a strategic plan aimed at reversing the country’s declining oil production and reinvigorating its upstream petroleum sector.

Acting GNPC CEO, Mr. Kwame Amoah

Speaking at the 8th Africa Energies Summit, Mr. Amoah emphasized GNPC’s renewed commitment to innovation, investment, and sustainability as foundational pillars for long-term sectoral growth.

In his keynote speech titled “Taking Ghana to the Next Level: Advancing Oil & Gas Exploration & Production,” he noted that Ghana’s daily oil output has dropped significantly—from a peak of 195,750 barrels in 2019 to about 110,500 barrels in recent years. He attributed this decline to factors such as reduced productivity in existing fields, minimal exploration efforts, and policy-related hurdles.

“Driving sustainable growth in Ghana’s oil and gas industry demands bold strategies and a proactive embrace of innovation,” he told an audience that included policymakers, industry leaders, and global energy experts.

A key component of GNPC’s revised strategy involves the integration of modern technology to boost exploration and production efficiency. Mr. Amoah shared plans to utilize Artificial Intelligence and digital solutions for better reservoir management and optimized drilling. The corporation also plans to implement advanced seismic imaging techniques—such as 4D acquisition and Ocean Bottom Node systems—and non-seismic methods like satellite imagery and Airborne Transient Pulse surveys, especially in the less-explored Voltaian Basin.

Alongside technological improvements, Mr. Amoah stressed the importance of fostering investor confidence through favorable policies. He advocated for a strategic shift in mindset—one that balances investment, innovation, and sustainability. According to him, consistent fiscal policies and clear regulatory frameworks are critical to attracting both domestic and foreign investment.

He also encouraged increased collaboration among oil companies, service providers, and technology firms. He proposed joint ventures and merging marginal fields under shared infrastructure as ways to reduce operational costs and boost efficiency. “Collaborative models are crucial for unlocking the full potential of Ghana’s upstream sector,” he remarked.

Under the leadership of the President and the Ministry of Energy and Green Transition, GNPC, he said, is committed to becoming a hub of excellence in Africa’s petroleum landscape. The corporation aims to build local capacity, promote indigenous expertise, and align its operations with environmental best practices and global decarbonisation goals.

“Reorienting our upstream strategy goes beyond increasing output—it’s about building a stronger, more sustainable energy future for Ghana,” he concluded.

The summit ended with a strong call to action for stakeholders to rally behind GNPC’s vision, which puts energy security and national development at the forefront of its upstream policy reform.

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Source: graphic.com.gh