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Driving Energy Investment in Ghana: GNPC, Africa Oil Week Strengthen Collaboration

The Ghana National Petroleum Corporation (GNPC) and Africa Oil Week (AOW) have explored potential collaboration to enhance Ghana’s global positioning as a prime destination for oil and gas investments.

In a meeting between GNPC’s CEO, Hon. Edward Abambire Bawa, and Paul Sinclair, head of the Africa Oil Week franchise, discussions centered on leveraging the upcoming AOW event, scheduled for September this year in Ghana, to attract foreign direct investment (FDI), strengthen Ghana’s energy policies, and maximize the country’s oil and gas potential.

This year’s AOW event coincides with GNPC’s 40th-anniversary celebrations, marking four decades of leadership in Ghana’s upstream sector. Sinclair emphasized that integrating GNPC’s milestone anniversary into AOW’s high-profile platform would amplify the Corporation’s contributions to Ghana’s petroleum industry while reinforcing its commitment to driving investment and sustainability in the energy sector.

Additionally, discussions highlighted the upcoming APPO Chief Executives Forum, set for September in Accra, which GNPC’s CEO currently presides over as Ghana holds the presidency of the Forum. Sinclair proposed that GNPC’s leadership role in APPO, its 40th anniversary, and the hosting of AOW present a unique opportunity to position Ghana as a central hub for energy discourse and investment on the continent.

Paul Sinclair, who leads one of the most influential energy investment platforms on the continent, emphasized AOW’s role in driving investment into Africa’s oil and gas sector. He highlighted AOW’s 30-year legacy of facilitating industry partnerships and its relationships with major global players, noting how hosting AOW in Ghana would provide a significant opportunity to showcase the country’s hydrocarbon potential, promote investment-friendly policies, and attract global energy stakeholders.

Commending GNPC’s role as an enabler in Ghana’s upstream petroleum space, he emphasized the need for strategic partnerships to ensure the sector’s continued growth and competitiveness. Sinclair also stressed the importance of creating a stable, transparent, and investment-friendly regulatory framework to attract investors.

Hon. Edward Bawa acknowledged AOW’s role in Africa’s energy landscape and welcomed its vision. He reiterated GNPC’s commitment to positioning Ghana as a competitive destination for upstream investments, indicating the need for policy enhancements to retain more value from Ghana’s oil and gas sector and ensure an optimal balance between foreign investment and national development objectives.

“As Ghana seeks to retain more value through its policies and energy regimes, we must continuously reassess and refine our laws to remain competitive against other emerging oil and gas markets in Africa,” Hon. Bawa stated.

He acknowledged that hydrocarbons will continue to be a key part of Ghana and Africa’s energy mix, despite the growing global transition to renewable energy.

Paul Sinclair also sought GNPC’s support in making AOW a successful national interest event, highlighting the amplification of Ghana’s oil prospectives, licensing framework, and exploration opportunities as some of the advantages that hosting AOW in Ghana presents.

Hon. Bawa assured GNPC’s willingness to collaborate on AOW, recognizing the significant economic and strategic benefits the event could bring. He stressed that Ghana must take full advantage of opportunities that drive investment into its upstream sector, ensuring that its petroleum resources are efficiently harnessed for national development and energy security.

Aligning GNPC’s 40th anniversary this year, AOW, and the APPO Chief Executives Forum, offer GNPC and its partners a unique opportunity to reinforce Ghana’s leadership in Africa’s oil and gas industry while attracting critical investments for the country’s energy future.