Our Business
Strategy
GNPC has adopted the “energizing performance through efficient operatorship” strategy with an objective to become a technically strong, commercially efficient and financially independent oil and gas exploration and production operator by 2030. This has been carefully designed to properly place and strengthen the foundation laid by the Accelerated Growth Strategy (2012 to 2020) to ensure that the progress towards operatorship is achieved in both name and substance.
GNPC's 2021-2030 strategy envisages the consolidation of GNPC's operatorship taking place in two phases:
- Consolidating the Operatorship Drive for Efficiency and Financial Independence phase (2021 to 2026).
- A Technically Strong and Commercially Efficient Exploration and Production Operator phase (2027 to 2030).
The 2021-2026 medium term phase which seeks to consolidate gains made to date and drive the systematic remediation of outstanding execution gaps of the Accelerated Growth Strategy focuses on the underlisted five (5) priority areas:
- Work towards Increasing Reserves and Optimizing Production
- Achieving Financial Independence
- Building Capacity and Raising Standards
- Fostering a Strong Organizational Culture
- Strengthening Stakeholder Relationships
The second execution phase (2027 to 2030) will focus on honing the Corporation into a strong and efficient E&P operator within the domestic and regional industry with emphasis on the following:
- Efficient stakeholder relationships
- Intensification of research and development for technical excellence, operational efficiency, and innovation - low carbon technologies, renewables, etc.
- Organizational culture optimization
- Sustainability of financial independence and commercial viability
- Optimization of operatorship vehicles for reserves and production improvement
- Deepening institutional capacity & standards