GNPC and TotalEnergies Explore Upstream Investment Prospects in Ghana
TotalEnergies has shown interest in enhancing its involvement in Ghana’s upstream oil and gas sector, focusing on opportunities in financing, processing, and marketing. This development arose from a recent meeting in GNPC’s office in Accra between Mr. Kwame Ntow Amoah, Acting Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), and a delegation from TotalEnergies, led by Senior Business Developer Konstantin Bosch.
Mr. Bosch underscored TotalEnergies’ extensive operational presence across West Africa, including its established downstream activities in Ghana. He highlighted the company’s proven expertise in upstream financing and its interest in deepening its engagement in Ghana’s upstream market. “TotalEnergies brings a robust track record in marketing and financing expertise. Ghana is a key market for us in the downstream sector, and we see significant potential to support upstream financing and refinancing initiatives” he remarked.
He also signaled TotalEnergies’ willingness to collaborate on data-sharing initiatives concerning Ghana’s oil and gas landscape, which could enhance the company’s evaluation of upstream opportunities and inform its investment strategy.
In response, Mr. Ntow Amoah emphasized the pivotal role of natural gas in Ghana’s energy transition and the pressing need to boost production to address escalating domestic demand. He outlined GNPC’s strategic priorities, including a potential subsidiarization model aimed at strengthening cargo trading and enhancing processing efficiency to maximize gas commercialization. “Natural gas is integral to Ghana’s energy security framework. Scaling up production and optimizing processing capabilities are critical steps toward meeting demand and advancing our commercialization objectives” he stated.
The discussions reflect GNPC’s ongoing efforts to forge robust partnerships to bolster Ghana’s oil and gas sector, aligning with TotalEnergies’ interest in leveraging its regional expertise to unlock new upstream opportunities. This engagement marks a significant step in fostering collaboration to support the growth and sustainability of Ghana’s energy industry.