GNPC CEO outlines strategic upstream reset at Africa Energies Summit

Kwame Ntow Amoah 

 

At the 8th edition of the Africa Energies Summit, Mr. Kwame Ntow Amoah, Ag. CEO of the Ghana National Petroleum Corporation (GNPC), presented a forward-looking vision of GNPC within the overall policy context of the resetting agenda for Ghana’s oil and gas sector, emphasizing the need for strategic investment and innovation to address production challenges and sustain growth.

Addressing a distinguished audience of industry leaders, policymakers, and global energy stakeholders, Mr. Amoah’s presentation focused on the theme “Taking Ghana to the Next Level: Advancing Oil & Gas Exploration & Production.” He outlined GNPC’s comprehensive approach to reversing the significant decline in oil production seen over the past eight years.

Resetting the Upstream Agenda

Mr. Amoah acknowledged that Ghana’s oil production has dropped dramatically from a peak of 195,750 barrels per day (bopd) in 2019 to around 110,500 bopd in recent years. He attributed this decline to factors such as declining field productivity, low exploration activity, and challenges with fiscal policies.

“Achieving sustainable growth in Ghana’s oil and gas sector requires bold thinking and a willingness to embrace innovation,” Mr. Amoah stated. He emphasized that to truly take Ghana to the next level, the focus must extend beyond increasing well counts to reimagining upstream strategies through data-driven decision-making and modern technologies.

Harnessing Technology for Enhanced Production

GNPC’s Ag. CEO emphasized the importance of incorporating advanced technologies, including Artificial Intelligence (AI), and similar technologies and their relevance for guiding exploration and production investment decision making. Mr. Amoah highlighted GNPC’s plans to leverage digital solutions for better reservoir management, optimize drilling operations, and deploy cutting-edge seismic data acquisition methods.

One notable strategy discussed was the adoption of 4D seismic acquisition and Ocean Bottom Node (OBN) technology, designed to provide high-resolution data and improve subsurface imaging. Additionally, GNPC is exploring non-seismic technologies such as Satellite Imagery and Airborne Transient Pulse surveys to de-risk exploration activities, particularly in the underexplored Voltaian Basin.

Investment as a Catalyst for Growth

Mr. Amoah made a compelling case for developing investor-friendly frameworks, stressing the importance of stable and transparent fiscal policies to attract new players into Ghana’s upstream sector. He noted that while Ghana’s geological prospects remain robust, the country must address perceived risks associated with frequent regulatory changes while positioning GNPC as the local investor who has similar concerns with excessive regulatory burden. “We need to adopt a new mindset — one that balances strategic investment, technological innovation, and sustainable practices,” he said. “Only then can we position Ghana as a resilient and competitive oil and gas hub on the African continent.”

A Call for Strategic Partnerships

In line with GNPC’s broader vision, Mr. Amoah called for greater collaboration between local and international oil companies, service providers, and technology innovators. He argued that multi-operator collaborations and the integration of marginal fields into hub-based developments could reduce costs and optimize resource utilization.

He also highlighted GNPC’s commitment to leveraging its role as the national oil company under His Excellency the President of Ghana’s vision of GNPC as a centre of excellence in Africa, to spearhead these initiatives, ensuring that local capacity and indigenous expertise are prioritized.

Positioning Ghana for the Future

Beyond addressing short-term challenges, Mr. Amoah urged the industry to consider long-term sustainability, including responsible environmental stewardship and social responsibility. He emphasized GNPC’s proactive approach to aligning upstream activities with global trends toward decarbonization and cleaner energy solutions.

“Resetting our upstream agenda is not just about boosting production — it’s about creating a more resilient and sustainable energy future for Ghana,” he added.

Next Steps

The summit session concluded with a call to action for industry stakeholders to seize investment opportunities and support GNPC’s mission to develop Ghana’s vast oil and gas potential responsibly.

Mr. Amoah’s strategic outline, built on innovation and collaboration, reflects GNPC’s dedication to arresting production decline, sustaining production, optimizing resource utilization, and building a more resilient upstream sector.

GNPC’s new direction highlights the Minister of Energy and Green Transition’s leadership in driving Ghana’s energy transformation, demonstrating a commitment to both economic development and sustainable exploration and production practices.