GNPC is an emerging oil and gas producer with enormous potential, with a healthy investment climate and a stable economy for the industry to thrive.
Current investment opportunities include Exploration and Production in the open acreages, the TEN-Jubilee Gas Pipeline, Tema LNG Project, Reverse Flow compressed and non-compressed, LPG Incremental Investment & Jetty, and the OCTP Offshore Receiving Facility (ORF)plusSealinePipeline. Others are theHUB Project to ensure efficient development of marginal fields in the Tano/Cape Three Points basin, Atuabo Sea Port, Osagyefo Power Barge, etc.
The table below categorises GNPC’s investments.
The State Enterprises Commission (SEC) has been the key stakeholder in monitoring the Corporation’s performance through a mid-year and annual assessment.Also, over the past few years the Corporation has adopted the Performance Management System (PMS) as a tool for measuring performance through our set objectives.
Based on the broad corporate objectives, departmental objectives and key performance indicators (KPIs) are set, out of which individuals derive their targets. Mid-year assessment is conducted to take care of any variations in the scope of operations before the conduct of the annual appraisal, where adjustments are made to accommodate any extenuating circumstances.
These represent GNPC's main Exploration and Production investments covered under the various Petroleum Agreements and Data Acquisition Agreements. GNPC, by law, is a party to all upstream Petroleum Agreements in Ghana. The Corporation also enters into agreements with various companies for data acquisition.
GNPC Exploration and Production Company (Explorco)
The GNPC Exploration and Production Company Limited (Explorco) was borne out of GNPC’s aspiration to grow its interests and participation in exploration and production activities in the country. Explorco is also a key plank of GNPC’s strategic tools to achieve rapid capacity building and technology transfer to GNPC staff to enable the attainment of the Corporation’s goal of becoming a world-class operator in 15 years.
GNPC sought to meet this ambition by taking on measured commercial risk in selected blocks through Explorco and build operating capability through the Joint Operating Company (“JOCs”) concept/model with world-class operators.
Following relevant approvals from the GNPC Board and the Minister for Energy & Petroleum, Explorco was registered as a Limited liability Company in November 2012.
Explorco has negotiated stakes in 6 blocks offshore Ghana. The blocks are located in three strategically focused areas in the Tano-Cape Three Points and Keta Basins.
GNPC Oil and Gas Learning Foundation
The GNPC Oil and Gas Learning Foundation, is an autonomous institution set up by the Ghana National Petroleum Corporation (GNPC) in 2012, to give focus to one of its founding objects, to: Ensure the training of citizens of Ghana and the development of national capabilities in all aspects of petroleum operations.
GNPC Oil and Gas Learning Foundation facilitates scholarship awards and grants to support individuals and Educational and Training institutions, to build national capacity in oil and gas sciences, policy, management and operations in order to achieve national local content aspirations.
The GNPC Oil and Gas Learning Foundation, is a company limited by guarantee, with GNPC initially as its sole subscriber. The objects of the Foundation are to:
- Receive funds from GNPC and other sources.
- Invest funds received so as to generate a sustainable income.
- Make donations to institutions, projects, and individuals that support the development of national capacity in the oil and gas industry.
- Support the establishment and development of a GNPC petroleum training institute.
- Do such other things necessary in the pursuit of the above
The Foundation is governed by a five-member Council, with the day-to-day management responsibility residing in a Secretariat headed by an Executive Secretary.
It was officially launched on Wednesday, 14th August, 2013.
GNPC holds 60% equity in the Mole Motel, located in the Mole National Park, the remaining 40% is held by the Wildlife Department of the Forestry Commission. This is GNPC's flagship 'green' project aimed at contributing to environmental sustainability in Ghana. The Mole National Park is the largest wildlife reserve in Ghana, located in the West Gonja District of the Northern Region of Ghana, 24 km from Damongo.
Prestea Sankofa Gold Limited
GNPC holds 90% equity in the gold mine. The Government of Ghana holds the remaining 10%.
GNPC-Technip Engineering Services Ltd
Joint venture service company between GNPC and Technip, established in 2012 and providing engineering services to the oil and gas industry. GNPC holds a 30% equity share with an option to increase its shareholding up to 51% by 2019. This is another strategic vehicle used by the Corporation to ensure rapid transfer of operating capabilities.
Saltpond Offshore Producing Company Limited
Operating and production company for the Saltpond Field. GNPC owns 45% with the remainder held by LushannEternit Energy Limited. The Saltpond Field was discovered in 1970. Its current production is about 250 barrels of oil per day.
GNPC – AGM Operating Company (OPCO)
In line with the Corporation's strategy, GNPC uses the Joint Operating Company concept in which GNPC-Explorco and AGM Ghana will jointly operate selected blocks.
GNPC holds a 25% equity stake in Airtel Ghana Limited after divestment of part of its stake in 2008. Airtel Ghana is currently the number 4 mobile operator by market share in Ghana