GNPC To Be A Stand-Alone Operator In 6 Years

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The Ghana National Petroleum Corporation (GNPC) has brought to light that, it has taken strategic plans to making the Corporation a stand – alone operator by 2025.

According to the General Manager of Sustainability Development of the GNPC, Dr. Kwame Baah – Nuakoh they are developing the structures to be able to allow GNPC to be a stand alone operator, explained that, being a stand alone operator means, GNPC “will not need to partner, our staff will be on the field controlling the drilling, metering, and transportation”.

Dr. Kwame Baah – Nuakoh, General Manager, Sustainability, GNPC

He stated that, the Corporation is building the capacity of its staff, saying, “almost every staff of GNPC, the technical guys have been on one attachment or the other to these oil companies to build  their expertise”.

He further noted that, GNPC “intend using the Voltaian Basin Project as the next step for GNPC developent to be a stand – alone operator. We are hoping to go alone, currently we are doing it alone because, GNPC is controlling all the processes”.

In pursuit of this goal, the Corporation adopted what it calls the ‘accelerated growth strategy’ which is anchored on four key pillars, namely: Building capacity and expanding activities – Investing systematically and prudently in building operating capability to manage a wider portfolio of producing assets; Replacing and growing reserves – Investing in high impact initiatives for the replacement and growth of reserves.

The other pillars are: Efficient capitalization and optimum participation – Securing capital at the lowest possible cost to maintain an optimum level of participation in petroleum operations and Catalysing local content development – expediting the creation of an appropriate environment for Ghanaian participation in the upstream sector of the petroleum industry.

The Africa Centre for Energy Policy (ACEP) raised alarm over GNPC’a intention to spend $43.05 million on Corporate Social Responsibility for the 2019 operational year. ACEPin an analysis of Corporation’s budget indicated that, GNPC “plans to spend US$ 43.05 million on corporate social responsibility for the 2019 operational year,” while spending $20 million on its operations in the Voltain Basin which is less than 50% of the amount to be spent on CSR programs.

Meanwhile, in response to the concerns raised over GNPC’s Quasi-expenses, Dr. Kwame Baah Nuakoh at the sidelines of a workshop to review the 2016 report of the Ghana Extractive Industry and Transparency Initiative has said, the impression being created about its CSR expenses as against its operational expenses is false.

He stated that, “The 40 something million dollars you saw for CSR is less than five per cent of the total budget of GNPC. I don’t know where this concept of GNPC spending more on CSR than its core operation is coming from. Somebody took just one aspect of the things we want to do in Voltain basin and said that if you compare that to the CSR, but that is not GNPC’s operational budget.”

The Ghana National Petroleum Corporation (GNPC) is Ghana’s National Oil Company (NOC), established in 1983 by PNDC Law 64, to support the government’s objective of providing adequate and reliable supply of petroleum products and reducing the country’s dependence on crude oil imports, through the development of the country’s own petroleum resources.

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