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Ghana National Petroleum Corporation
Industry Oil and gas industry
Headquarters Tema, Greater Accra, Ghana
Key people Alex Mould (CEO)[1]
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.can this be Ghana's oil.

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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150 news items

 
Reuters Africa
Tue, 08 Apr 2014 04:26:15 -0700

(Adds quote). ACCRA, April 8 (Reuters) - Output from Ghana's offshore Jubilee oilfield will hit between 105,000 and 110,000 barrels per day (bpd) in 2014 versus a budgeted 110,000 bpd, the chief executive of Ghana National Petroleum Corporation said on ...

Ghana Broadcasting Corporation

spyghana.com
Tue, 15 Apr 2014 17:33:45 -0700

... and Petroleum, Mr Emmanuel Armah-Kofi Buah, CEO of the Ghana National Petroleum Corporation (GNPC), Mr. Alex Mould, CEO of the Petroleum Commission, Mr Theo Ahwering, CEO of the Ghana National Gas Company, Dr George Sipa-Adjah Yankey, ...

Ventures Africa

Ventures Africa
Wed, 26 Mar 2014 08:00:00 -0700

Camac's partners in this venture include Camac Energy (Ghana), the Ghana National Petroleum Corporation (GNPC), Base Energy Ghana and GNPC Exploration and Production Company (GNPC Explorco). Government's latest approval of this petroleum ...
 
Reuters UK
Fri, 11 Apr 2014 12:07:30 -0700

(Adds quote, detail). By Kwasi Kpodo. ACCRA, April 11 (Reuters) - Ghana National Petroleum Corporation (GNPC) is seeking $1 billion to fund its plan to become an independent operator in seven years and will also seek to build an oil trading desk with ...
 
GhanaWeb
Mon, 14 Apr 2014 08:11:15 -0700

Alexander Kofi Mould, Chief Executive Officer (CEO) of the Ghana National Petroleum Corporation (GNPC), has called for the development of infrastructure for future production of oil and offshore exploration. Mr Mould, who was speaking at a conference ...
 
AllAfrica.com
Sun, 13 Apr 2014 10:15:00 -0700

The Nigerian National Petroleum Corporation (NNPC) and Ghana National Petroleum Corporation in 1999 signed a gas supply agreement to further implement the West African Gas Pipeline project. Under the agreement, Ghana would be conserving ...
 
Reuters
Thu, 10 Apr 2014 08:56:15 -0700

ACCRA (Reuters) - Ghana National Petroleum Corporation (GNPC) is in talks with Royal Dutch Shell (RDSa.L) (RDSb.L) over an exploration and production deal in the offshore East Keta basin, GNPC's chief executive said at the Reuters Africa summit.
 
The Africa Report
Thu, 10 Apr 2014 03:30:00 -0700

Alex Mould, chief executive of Ghana National Petroleum Company Ghana National Petroleum Corporation (GNPC) is in talks with Royal Dutch Shell over an exploration and production deal in the offshore East Keta basin, GNPC's chief executive said at the ...
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