GNPC acting CEO unveils upstream reset strategy at Africa Energies Summit

Mr. Amoah outlined GNPC’s plan to reverse the decline in oil production.

Upstream Agenda
Ghana’s oil production has dropped significantly. It fell from 195,750 barrels per day in 2019 to about 110,500 bopd recently. Mr. Amoah attributed this decline to low exploration activity and declining field productivity. He emphasized that sustainable growth requires bold thinking and innovation.

To elevate Ghana's oil sector, he stressed the need for data-driven strategies and modern technologies.

Technology for Enhanced Production
Mr. Amoah highlighted the importance of advanced technologies like Artificial Intelligence (AI). These technologies will guide investment decisions in exploration and production.

GNPC plans to use digital solutions for better reservoir management and optimized drilling operations. They aim to adopt 4D seismic acquisition and Ocean Bottom Node technology for improved subsurface imaging.

Additionally, GNPC is exploring non-seismic methods such as Satellite Imagery and Airborne Transient Pulse surveys. These will help reduce risks in underexplored areas like the Voltaian Basin.

Investment
Mr. Amoah called for investor-friendly frameworks with stable fiscal policies. This will attract new players into Ghana’s upstream sector.

He noted that while Ghana has strong geological prospects, it must address regulatory risks. A new mindset is needed to balance investment, innovation, and sustainability.

“We can position Ghana as a competitive oil hub in Africa,” he said.

Strategic Partnerships
Mr. Amoah urged collaboration between local and international companies, service providers, and tech innovators. Multi-operator collaborations could lower costs and optimize resources.

He emphasized GNPC’s role as a national oil company under the President's vision of excellence in Africa.

Positioning for Future
Beyond short-term challenges, Mr. Amoah stressed long-term sustainability goals. This includes environmental stewardship and social responsibility.

He highlighted GNPC’s commitment to aligning activities with global decarbonization trends.

“Resetting our agenda is about creating a resilient energy future,” he added.

Next Steps
The summit concluded with a call for stakeholders to seize investment opportunities. They should support GNPC’s mission to develop Ghana's oil potential responsibly.

Mr. Amoah’s strategic outline reflects GNPC’s dedication to reversing production decline while optimizing resources.

GNPC's new direction shows leadership in driving Ghana's energy transformation toward economic development and sustainable practices.