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Ghana National Petroleum Corporation
Industry Oil and gas industry
Headquarters Tema, Greater Accra, Ghana
Key people Alex Mould (CEO)[1]
Owners President John Dramani Mahama
Website www.gnpcghana.com

The Ghana National Petroleum Company (GNPC) is the state agency responsible for the exploration, licensing, and distribution of petroleum-related activities in Ghana.[2]

History[edit]

The corporation was established to replace the Petroleum Department which was an agency under the Ministry of Fuel and Power. The department was responsible for the importation of crude oil and petroleum products for the Ghanaian economy.[2] The mandate for oil exploration was held to be the Technical Directorate of the Ministry of Fuel and Power and the Geological Survey Department. The corporation was created to promote the Government of Ghana's objective of supplying adequate and reliable petroleum for the country and the discovery of crude oil in the country's territories.

Mandate[edit]

The corporation was established as a state-owned company with the statutory backing of PNDC Laws 64 and 84. The laws mandated the corporation to engage in exploration, production and disposal of petroleum products. The laws also established the legal structure that informed the corporation in contractual agreements between the Government of Ghana and private oil exploration companies. In 1987, the Petroleum Income Tax Law were added to the corporation's mandate to permit it to tax various petroleum products for consumption. The law was the PNDC Law 188.

Functions[edit]

The corporation has amongst it functions to promote petroleum exploration activities, to appraise existing petroleum discoveries, to ensure that Ghana benefit the most from the development of the country's petroleum resources. The corporation promotes the training of Ghanaians in petroleum related activities and ensure environmental protection in all petroleum related activities.

Jubilee fields[edit]

The corporation announced in 2007 that the Petroleum Agreement signed in 2004 between Ghana represented by the Ministry of Energy and the Corporation, on the one hand, and Kosmos Energy HC and its partners had yielded in the discovery of oil in commercial quantities.[3] Production of crude oil begun in December 2010. The country's oil fields are known as Jubilee fields and is situated at Cape Three Points in the Western region of the country. The corporation has controlling stake in all the oil wells that produce crude oil. In April 2011, GNPC confirmed that it had an initial 10% interest in a new oil discovery at the Paradise prospect offshore Ghana. The discovery was announced in April 2011 by Hess Corporation, a New York-based oil company.[4] In June 2011, the corporation lifted 135,675 metric tonnes of Jubilee crude oil from the FPSO Kwame Nkrumah. This represented crude oil on behalf of the Ghana Group, comprising the Government of Ghana (GoG) and GNPC. It represented the first lifting of crude oil from the Jubilee fields. The barrels lifted comprised accumulated government royalties of 37,557 metric tonnes and accumulated GNPC’s 13.75 per cent participating interest entitlement of 98,119 metric tonnes.[5]

References[edit]

  1. ^ "Alex Mould heads GNPC". ghananewsagency.org. 6 October 2013. Retrieved 20 February 2014. 
  2. ^ a b "About GNPC". www.gnpcghana.com. Retrieved 4 June 2011. 
  3. ^ "SIGNIFICANT OIL DISCOVERY IN GHANA". www.gnpcghana.com. Retrieved 5 June 2011. 
  4. ^ "GNPC confirms 10% initial interest in newly found oil in Ghana". www.ghanabusinessnews.com. Retrieved 5 June 2011. 
  5. ^ "GNPC Lifts 994,691 Barrels Of Crude Oil". www.ghanaoilonline.org. Retrieved 5 June 2011. 

Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Ghana_National_Petroleum_Corporation — Please support Wikipedia.
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113 news items

 
BusinessDay
Tue, 21 Oct 2014 17:45:00 -0700

The field was discovered in 2007 and developed by Tullow Oil with other equity partners; Tullow with 49.95per cent, Kosmos with 18per cent, Anadarko with 18per cent, Sabre Oil & Gas with 4.05per cent, and Ghana National Petroleum Corporation, GNPC, ...
 
BusinessGhana
Mon, 20 Oct 2014 05:56:15 -0700

Hess Corporation has launched the third annual scholarship awards program in collaboration with the Ghana National Petroleum Corporation (GNPC) to support academically qualified, but underprivileged students. This year's award winners in the ...

GhanaWeb

GhanaWeb
Sun, 19 Oct 2014 11:00:00 -0700

Hess Corporation has launched the third annual scholarship awards program in conjunction with the Ghana National Petroleum Corporation (GNPC) to support academically qualified, but underprivileged students. This year's award winners in the ...

GhanaWeb

GhanaWeb
Tue, 21 Oct 2014 13:37:30 -0700

The Ghana National Petroleum Corporation (GNPC) says it will be very risky to give its crude oil to the Tema Oil Refinery (TOR) to refine. The Acting Head, Corporate Affairs of the GNPC, Mr Eric Pwadura, said the efficiency of TOR was questionable and ...
 
GhanaWeb
Mon, 20 Oct 2014 20:00:00 -0700

The Ghana National Petroleum Corporation (GNPC), Headline Sponsor of the Black Stars, is proud of the sterling performance put up by the team in the AFCON 2015 Qualifier return leg encounter with their Guinean counterparts at the Tamale Sports Stadium ...

GhanaWeb

GhanaWeb
Thu, 16 Oct 2014 01:15:00 -0700

The acting Chief Executive of the Ghana National Petroleum Corporation (GNPC), Mr Alex Mould, has called for increased participation by the state to enable Ghana to fully realise and retain the benefits that the oil and gas operations hold for the country.

spyghana.com

spyghana.com
Fri, 17 Oct 2014 02:21:00 -0700

The Acting head of Corporate Affairs at the Ghana National Petroleum Corporation Eric Pwadura says GNPC has already sent a team to engage the communities along the Volta basin educating them on the effects and benefits of the project. “We have our ...
 
Rigzone (registration)
Sun, 19 Oct 2014 20:23:25 -0700

Singapore's Sembcorp Marine Ltd.'s unit Jurong Shipyard Pte Ltd., bagged a contract from MODEC Offshore Production Systems (Singapore) Pte Ltd.-- a unit of Japan's MODEC Inc. -- for the conversion of a Very Large Crude Carrier (VLCC) into a floating ...
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