GNPC and PIAC Promote Synergy to Enhance Governance of Ghana’s Petroleum Sector
The Ghana National Petroleum Corporation (GNPC) has reiterated its commitment to transparency, accountability, and robust stakeholder engagement following a strategic meeting with the Public Interest and Accountability Committee (PIAC) at Petroleum House, Tema. The discussion highlighted a mutual commitment to ensuring the sustainable management of Ghana’s petroleum resources in alignment with public interest.
Led by Chairman Constantine Kudzedzi, the PIAC delegation congratulated Mr. Kwame Ntow Amoah on his recent appointment as Acting CEO of GNPC and commended the Corporation’s ongoing cooperation on governance and operational matters within the petroleum industry. The meeting addressed critical topics, including GNPC’s long-term growth strategy, financial commitments, oil and gas production trends, and priority upstream projects.
Mr. Ntow Amoah affirmed GNPC’s adherence to PIAC’s oversight mandate, highlighting the Corporation’s compliance with the Petroleum Revenue Management Act (PRMA), 2011 (Act 815). This includes the timely submission of semi-annual and annual reports and reconciliation statements. He emphasized the value of sustained dialogue with PIAC, noting that it fosters knowledge exchange, resolves operational ambiguities, and supports collaborative solutions to sector challenges.
A significant focus of the discussion was GNPC’s sustainability beyond 2026 as it transitions into a more diversified entity. Mr. Ntow Amoah detailed the Corporation’s subsidiarization strategy, spotlighting the operationalization of Explorco as an autonomous upstream exploration and production subsidiary. He also outlined plans to establish additional subsidiaries in Trading & Marketing and Research & Development, aimed at positioning GNPC as a fully integrated operator while broadening its revenue base.
Updates on key initiatives included the Voltaian Basin Project, a cornerstone of GNPC’s exploration agenda. Mr. Ntow Amoah noted that the project is undergoing a technical review, with stringent measures in place to ensure environmental and regulatory compliance. The Block 1 project was also highlighted as a strategic effort to bolster production and address declining output levels.
Reaffirming GNPC’s commitment to transparency, Mr. Ntow Amoah stated, “We uphold an open-door policy with PIAC and all stakeholders. Our priority is to manage Ghana’s petroleum resources responsibly, ensuring long-term benefits for the nation through ongoing engagement.”
PIAC commended GNPC’s proactive stance and encouraged sustained focus on critical areas, including post-2026 sustainability, production optimization, financial transparency, and prudent budgetary management. Both entities expressed optimism about deepening their partnership to safeguard the integrity and efficiency of Ghana’s petroleum sector.