The Ghana National Petroleum Corporation (GNPC) has marked 40 years of operations with a renewed push to reverse Ghana’s declining oil production, expand gas commercialisation and increase exploration as it prepares to take on a bigger operatorship role in the petroleum sector.
The priorities were outlined at GNPC’s 3rd Annual General Meeting at the Labadi Beach Hotel in Accra, held under the theme, “40 Years of Resilience.”
The meeting reviewed the Corporation’s 2025 performance and its plans for the next phase of its development, bringing together the Board, Management, government representatives, operating partners and other industry stakeholders.
GNPC targets production recovery
GNPC Board Chairman, Professor Joseph Oteng Adjei, said the Corporation’s four decades had taken it from building the foundations of Ghana’s petroleum industry to developing commercial discoveries and strengthening its national energy role.
“Each phase of this journey has been characterised by resilience, adaptability, and an unwavering commitment to creating lasting value for Ghana,” he said.
But the anniversary comes as Ghana’s upstream sector faces a stubborn production problem.
Crude oil output fell for the fifth consecutive year in 2025. GNPC said it worked with its operating partners on targeted interventions at the Jubilee, TEN and Sankofa Gye Nyame fields to stabilise production.
Average daily crude production from the three producing fields stood at 102,199 barrels per day.
The Board says arresting the decline remains a major priority, alongside attracting fresh upstream investment and advancing exploration in the Voltaian Basin.
Gas becomes increasingly important
Gas is also taking a bigger role in GNPC’s strategy.
Gas exports for domestic consumption reached approximately 336 million standard cubic feet per day in 2025, exceeding the annual target of 325 MMscf/d.
The financial figures tell another part of the story. GNPC Group revenue increased by 3.66 percent to US$1.64 billion, while gas revenue reached US$952.38 million. Gas therefore accounted for 65.6 percent of standalone revenue.
Chief Executive Kwame Ntow Amoah said the Corporation had responded to difficult operating conditions through targeted measures aimed at stabilising production and expanding its commercial activities.
“GNPC responded with disciplined execution, stronger focus, and targeted interventions to stabilise production, deepen gas commercialisation, advance exploration, and strengthen operatorship capability.” - Ntow Amoah.
According to Mr Amoah, the impact of those measures became more visible in the second half of 2025, when the pace of production decline began showing signs of stabilisation.
US$3.5bn investment unlocked
One of the significant developments during the year was the extension of three Petroleum Agreements covering Deepwater Tano, West Cape Three Points and Offshore Cape Three Points.
GNPC said the extensions are expected to unlock US$3.5 billion in investment over the next three years, providing a fresh pipeline of capital for Ghana’s upstream sector.
The Corporation is also trying to expand the country’s future resource base.
The Eban Akoma discoveries have reached a declaration of commerciality, while preparations are underway for an exploration well in the Voltaian Basin targeted for the fourth quarter of 2026.
GNPC is also advancing a cluster based development programme designed to bring smaller and infrastructure constrained petroleum resources into production.
At 40, the Corporation is therefore looking beyond an anniversary celebration. Its immediate challenge is to turn stabilisation into growth, make better use of Ghana’s gas resources and build the technical and institutional capacity needed for greater control of petroleum operations.
For GNPC, the next four decades will depend less on the age of the institution than on whether it can translate Ghana’s remaining petroleum resources into sustained production, investment and value for the country.
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