The Ghana National Petroleum Corporation (GNPC) and the Petroleum Commission (PC) have signed a Promotion, Marketing, and Revenue Sharing Agreement covering all data acquired under GNPC’s Reconnaissance License on the Voltaian Basin Project.
The agreement, formalised at a brief ceremony at GNPC’s Training Centre in Accra, provides a framework for the joint promotion and marketing of 2D seismic and geochemical data collected by GNPC.
It also sets out modalities for revenue sharing from future data licensing activities.
According to both institutions, the signing of the agreement demonstrates their commitment to accelerating upstream investment in Ghana’s onshore sedimentary basin while ensuring value creation and equitable benefit sharing from national data resources.
The Acting Chief Executive Officer of GNPC, Kwame Ntow Amoah, who signed on behalf of the Corporation, described the agreement as a significant step forward in maximizing the value of the country’s data assets while strengthening transparency and collaboration between the National Oil Company and the regulator.
“This project is a lifeline. With the right investment and commitment, we can replicate the success of Ghana’s offshore sector right here onshore — and lead this development on our own terms,” Mr. Amoah stated.
He urged stakeholders to remain focused and committed to unlocking the full potential of the Voltaian Basin Project.
Chief Executive Officer of the Petroleum Commission, Emeafa Hardcastle, welcomed the agreement as both timely and forward-looking, describing it as a demonstration of the two institutions’ shared commitment to advancing Ghana’s upstream agenda.
“This agreement couldn’t have come at a better time. We will continue to collaborate and strategize to ensure smooth and seamless progress for our industry,” she said.
She expressed appreciation to GNPC for its sustained partnership. She also assured GNPC of the Commission’s full support in marketing Ghana’s resources to deliver maximum shared benefits.
The Voltaian Basin Project remains GNPC’s flagship onshore initiative, aimed at unlocking the country’s untapped hydrocarbon potential in its inland sedimentary basin.
A Business Desk Report