GNPC turns 40, targets oil production recovery and $3.5bn fresh investment
The Ghana National Petroleum Corporation (GNPC) is targeting a recovery in oil production, expanded gas commercialisation and increased exploration as it marks 40 years of operations.
The Ghana National Petroleum Corporation (GNPC) commemorated its 40th anniversary, outlining plans for a recovery in oil production and attracting fresh investments. At the 3rd Annual General Meeting, chaired by Prof. Joseph Oteng-Adjei, the Corporation emphasized resilience, adaptability, and a commitment to creating long-term value for Ghana.
GNPC Board Chairman highlighted the focus on reversing oil production decline, accelerating gas commercialisation, attracting new upstream investment, and advancing exploration in the Voltaian Basin. In 2025, Ghana experienced its fifth consecutive year of declining crude oil production, averaging 102,199 barrels per day from the Jubilee, TEN, and Sankofa Gye Nyame fields.
Gas exports for domestic use reached 336 million standard cubic feet per day, surpassing the annual target of 325 MMscf/d. Financial performance improved, with a 3.66% increase in Group revenue to US$1.64 billion, with gas revenue accounting for 65.6% of standalone revenue. The Corporation secured US$3.5 billion in new investment through the extension of three Petroleum Agreements, and progress was made in commercialising the Eban-Akoma discoveries.
Dr. John Abdulai Jinapor, Energy and Green Transition Minister, called for a shift from resilience to renewal and growth in the industry. GNPC also invested US$6.57 million in corporate social investment programmes in 2025, covering education, healthcare, skills development, community infrastructure, and economic empowerment.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
