digplanet beta 1: Athena
Share digplanet:

Agriculture

Applied sciences

Arts

Belief

Business

Chronology

Culture

Education

Environment

Geography

Health

History

Humanities

Language

Law

Life

Mathematics

Nature

People

Politics

Science

Society

Technology

Ghana National Petroleum Corporation
Industry Oil and gas industry
Headquarters Tema, Greater Accra, Ghana
Key people Alex Mould (CEO)[1]
Owner(s) 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.
This page uses Creative Commons Licensed content from Wikipedia. A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia.
183 videos foundNext > 

Mr. Asafu Adjaye, Acting Chief Executive of The Ghana National Petroleum Corporation

David Ampofo Host of Time with David this weekend interviews the Acting Chief Executive of The Ghana National Petroleum Corporation (GNPC), Mr. Asafu Adjaye ...

Ghana - Ghana National Petroleum Company

An insight into Ghana's GNPC. Produced by EPIC Global Media, an award-winning creative agency which signed a Global Development Alliance (GDA) with the Unite...

Ghana's oil output expected to more than double

Output from Ghana's offshore Jubilee oilfield will hit between 105-thousannd and 110-thousand barrels per day in 2014. Addressing participants at the 2014 Gh...

Tsatsu Tsikata at Judgement Debt Commission

A former Chief executive of the Ghana National Petroleum Corporation, GNPC, Mr. Tsatsu Tsikata says he finds it difficult to understand why the former Deputy...

Cape3 Oil Services

Cape3 Services Limited is a Ghanaian company licensed by the Ghana National Petroleum Corporation (GNPC) in some West African countries: Liberia, La Cote d'I...

Public Accounts Committee

Accra: The Energy Ministry and the Ghana National Petroleum Corporation appeared before the Public Accounts Committee today Thursday. The Committee sought to...

Tsatsu Tsikata Talks to Phillip Nyakpo

Renowned Lawyer and Former Chief Executive of Ghana National Petroleum Corporation, Tsatsu Tsikata Talks to Phillip Nyakpo in an interview. Tsatsu Tsikata di...

Ghanas Oil Reserves: A Blessing and a Curse | Global 3000

Oil was discovered along the coast of Ghana three years ago. Drilling is scheduled to begin in late October 2010.The state-run oil company, the Ghana Nationa...

Nana Boakye Asafu Adjaye, Acting CEO, GNPC - III

David Ampofo, Host of Time with David interviews the Acting Chief Executive of the Ghana National Petroleum Corporation (GNPC) about the future of Ghana's em...

The Jubilee Mega Project

The Jubilee Mega Project is under development off the coast of the Republic of Ghana, with first oil expected in late-2010. The project is operated by Tullow...

183 videos foundNext > 

66 news items

 
Ghana
Mon, 25 Aug 2014 01:32:36 -0700

The Report also called on Parliament to seek evidence of efficient spending of previous allocations to the Ghana National Petroleum Corporation (GNPC) as a condition for allowing GNPC to have control over its revenues—as demanded— noting that the ...

Citifmonline

Citifmonline
Tue, 26 Aug 2014 07:15:00 -0700

According to him, ex-President John Rawlings was also considered for his contribution to the setting up of the Ghana National Petroleum Corporation (GNPC) while ex-President John Kufuor was also acknowledged for the discovery of oil under his ...
 
GhanaWeb
Tue, 26 Aug 2014 15:30:00 -0700

Former President Rawlings is credited for setting up the Ghana National Petroleum Corporation (GNPC), the passage of the petroleum law which is currently still used to govern the exploitation of petroleum resources and the passage of the petroleum ...
 
GhanaWeb
Tue, 26 Aug 2014 20:11:15 -0700

TV3's Ghana's Most Beautiful programme, UT Bank Koowa Accounts, Ghana Commercial Bank, Ghana National Petroleum Corporation, Ghana Broadcasting Corporation, GTV Agrofie programme, Global Access SME Auto Loan and Unibank Ghana Ltd, ...

Citifmonline

Citifmonline
Fri, 22 Aug 2014 03:41:15 -0700

Ghana National Petroleum Corporation (GNPC), which oversees exploration, says seismic surveys will not disrupt fishing. “We have been engaging the association of fishermen on this project,” says a GNPC spokesman. “The fishermen need to understand ...
 
BusinessGhana
Thu, 21 Aug 2014 02:11:15 -0700

The companies were the Ghana National Petroleum Corporation, which presented a cheque for GHC 40,000.00, Friends of the Earth, an international network of environmental organizations also presented a cheque for GHC 6000.00 for the national best ...
 
Lexology (registration)
Fri, 22 Aug 2014 15:41:15 -0700

However, the 2002 model form petroleum agreement used by the government permits the disclosure of data and information “to a bona fide potential assignee of all or part of Contractor's Interest hereunder provided the Ghana National Petroleum ...
 
GhanaWeb
Mon, 11 Aug 2014 12:41:15 -0700

The services captured include, Daily Graphic, the Mirror newspaper,TV3 Ghana's Most Beautiful, UT Bank, Bank Koowa Accounts, Ghana Commercial Bank, Ghana National Petroleum Corporation, Ghana Broadcasting Corporation, GTV Agrofie Programme, ...
Loading

Oops, we seem to be having trouble contacting Twitter

Talk About Ghana National Petroleum Corporation

You can talk about Ghana National Petroleum Corporation with people all over the world in our discussions.

Support Wikipedia

A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia. Please add your support for Wikipedia!