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Ghana National Petroleum Corporation
Industry Oil and gas industry
Headquarters Tema, Greater Accra, Ghana
Key people
Alex Mould (CEO)[1]
Owner Government of Ghana
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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Sat, 06 Feb 2016 23:52:30 -0800

Representatives of the Ministries, Departments and Agencies (MDAs) including the Petroleum Commission, National Petroleum Authority, Ghana National Petroleum Corporation, Ghana National Gas Company, Tema Oil Refinery, Bulk Oil Storage and ...

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Fri, 05 Feb 2016 20:42:32 -0800

The five-member board, chaired by Mr John Armstrong Yao Klinogo, a chartered accountant, also includes Mr Alexander Mensah Mould, the Chief Executive Officer (CEO) of the Ghana National Petroleum Corporation (GNPC); Dr George Sipa-Adjah Yankey, ...

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Mon, 25 Jan 2016 09:48:45 -0800

The development of the TEN fields is being led by Tullow Oil along with its partners the Ghana National Petroleum Corporation, Kosmos Energy, Anadarko Petroleum Corporation and Petro SA. The construction of the FPSO has been led by global supplier ...
 
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Tue, 02 Feb 2016 04:31:54 -0800

The world-class Sankofa-Gye Nyame field – Ghana's third oil and gas field – which will increase Ghana's electricity supply by fifty per cent is making significant progress, says the Ghana National Petroleum Corporation (GNPC). A statement by the GNPC ...

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Mon, 01 Feb 2016 10:11:15 -0800

The world-class Sankofa-Gye Nyame field - Ghana's third oil and gas field - which will increase Ghana's electricity supply by fifty per cent is making significant progress, says the Ghana National Petroleum Corporation (GNPC). A statement by the GNPC ...

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Mon, 01 Feb 2016 23:52:30 -0800

Ghana's third oil and gas field -- Sankofa-Gye Nyame -- is on course to deliver its first oil in August next year and subsequently its first gas in 2018, says Alex Mould, acting CEO of Ghana National Petroleum Corporation (GNPC). The project is ...
 
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Fri, 29 Jan 2016 04:11:15 -0800

The Chief Executive Officer, Ghana National Petroleum Corporation (GNPC), Alexander Koffi-Mensah Mould, told The Guardian on the sideline of the Offshore West African Conference and Exhibition (OWA) in Lagos, that his nation feels aggrieved with the ...

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Tue, 26 Jan 2016 01:33:45 -0800

The team will also meet and hold discussions with the Ghana National Petroleum Corporation (GNPC) and visit the Atuabo Gas Processing Plant, where they will hold discussions with the leadership of Ghana Gas Company Ltd. Areas earmarked for ...
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