The Ghana National Petroleum Corporation (GNPC) is the state agency responsible for the exploration, licensing, and distribution of petroleum-related activities in Ghana.[4]
The corporation was established in 1983 to replace the Petroleum Department which was an agency under the Ministry of Fuel and power.[5][6] The department was responsible for the importation of crude oil and petroleum products for the Ghanaian economy.[4] The mandate for oil exploration was held to be the Technical Directorate of the Ministry of Fuel and Power and the Geological Survey Department. The corporation was created to promote the Government of Ghana's objective of supplying adequate and reliable petroleum for the country and the discovery of crude oil in the country's territories.
Mandate
The corporation was established as a state-owned company with the statutory backing of PNDC Laws 64 and 84. The laws mandated the corporation to engage in exploration, production and disposal of petroleum products. The laws also established the legal structure that informed the corporation in contractual agreements between the Government of Ghana and private oil exploration companies. In 1987, the Petroleum Income Tax Law were added to the corporation's mandate to permit it to tax various petroleum products for consumption. The law was the PNDC Law 188.
Functions
The corporation has among its functions to promote petroleum exploration activities, to appraise existing petroleum discoveries, and to ensure that Ghana benefits the most from the development of the country's petroleum resources. The corporation promotes the training of Ghanaians in petroleum-related activities and ensures environmental protection in all petroleum-related activities.[7]
The corporation announced in 2007 that the Petroleum Agreement signed in 2004 had yielded in the discovery of oil in commercial quantities.[8] Production of crude oil begun in December 2010. The country's oil fields are known as Jubilee fields and is situated at Cape Three Points in the Western region of the country. The corporation has controlling stake in all the oil wells that produce crude oil. In April 2011, GNPC confirmed that it had an initial 10% interest in a new oil discovery at the Paradise prospect offshore Ghana. The discovery was announced in April 2011 by Hess Corporation, a New York-based oil company.[9] In June 2011, the corporation lifted 135,675 metric tonnes of Jubilee crude oil from the FPSO Kwame Nkrumah. This represented crude oil on behalf of the Ghana Group, comprising the Government of Ghana (GoG) and GNPC. It represented the first lifting of crude oil from the Jubilee fields. The barrels lifted comprised accumulated government royalties of 37,557 metric tonnes and accumulated GNPC's 13.75 per cent participating interest entitlement of 98,119 metric tonnes.[10]
^"Alex Mould", Wikipedia, 31 August 2022, retrieved 25 October 2022
^"Kofi Koduah Sarpong", Wikipedia, 16 August 2022, retrieved 25 October 2022
^Okyere, Gertrude (22 April 2022). "Opoku-Ahweneeh Danquah is new GNPC CEO". Adomonline.com. Retrieved 25 October 2022.
^ ab. gnpcghana.com. Archived from the original on 1 December 2011. Retrieved 4 June 2011.
^Yire, Iddi (31 December 2017). "GNPC wins two awards". Ghana News Agency. from the original on 22 May 2018. Retrieved 21 May 2018. GNPC was established in 1983 under the Ghana National Petroleum Corporation (GNPC) Law 1983, PNDC Law 64 and started operations in 1985.
^"Ghana National Petroleum Corporation (GNPC)". State Enterprises Commission - Ghana. from the original on 12 May 2018. Retrieved 21 May 2018. Prior to the establishment of GNPC in 1983
^"About Us". GNPC. from the original on 27 November 2020. Retrieved 18 July 2020.
^. gnpcghana.com. Archived from the original on 25 March 2012. Retrieved 5 June 2011.
^"GNPC confirms 10% initial interest in newly found oil in Ghana". ghanabusinessnews.com. from the original on 2 June 2011. Retrieved 5 June 2011.
^"GNPC Lifts 994,691 Barrels of Crude Oil". ghanaoilonline.org. from the original on 17 August 2011. Retrieved 5 June 2011.
March 22, 2023
ghana, national, petroleum, corporation, gnpc, state, agency, responsible, exploration, licensing, distribution, petroleum, related, activities, ghana, industryoil, industryfounded1983, 1983, headquarterstema, greater, accra, ghanakey, peoplealex, mould, 2013,. The Ghana National Petroleum Corporation GNPC is the state agency responsible for the exploration licensing and distribution of petroleum related activities in Ghana 4 Ghana National Petroleum CorporationIndustryOil and gas industryFounded1983 1983 HeadquartersTema Greater Accra GhanaKey peopleAlex Mould 1 2013 2016 K K Sarpong 2 2017 2022 O A Danquah 3 2022 present OwnerGovernment of GhanaWebsitewww wbr gnpcghana wbr com Contents 1 History 2 Mandate 3 Functions 4 Jubilee fields 5 See also 6 ReferencesHistory EditThe corporation was established in 1983 to replace the Petroleum Department which was an agency under the Ministry of Fuel and power 5 6 The department was responsible for the importation of crude oil and petroleum products for the Ghanaian economy 4 The mandate for oil exploration was held to be the Technical Directorate of the Ministry of Fuel and Power and the Geological Survey Department The corporation was created to promote the Government of Ghana s objective of supplying adequate and reliable petroleum for the country and the discovery of crude oil in the country s territories Mandate EditThe corporation was established as a state owned company with the statutory backing of PNDC Laws 64 and 84 The laws mandated the corporation to engage in exploration production and disposal of petroleum products The laws also established the legal structure that informed the corporation in contractual agreements between the Government of Ghana and private oil exploration companies In 1987 the Petroleum Income Tax Law were added to the corporation s mandate to permit it to tax various petroleum products for consumption The law was the PNDC Law 188 Functions EditThe corporation has among its functions to promote petroleum exploration activities to appraise existing petroleum discoveries and to ensure that Ghana benefits the most from the development of the country s petroleum resources The corporation promotes the training of Ghanaians in petroleum related activities and ensures environmental protection in all petroleum related activities 7 Jubilee fields Edit Jubilee Oil Field of the Ghana National Petroleum Corporation GNPC and National Petroleum Authority located off the coast of the Western Region in Ghana in the South Atlantic Ocean The corporation announced in 2007 that the Petroleum Agreement signed in 2004 had yielded in the discovery of oil in commercial quantities 8 Production of crude oil begun in December 2010 The country s oil fields are known as Jubilee fields and is situated at Cape Three Points in the Western region of the country The corporation has controlling stake in all the oil wells that produce crude oil In April 2011 GNPC confirmed that it had an initial 10 interest in a new oil discovery at the Paradise prospect offshore Ghana The discovery was announced in April 2011 by Hess Corporation a New York based oil company 9 In June 2011 the corporation lifted 135 675 metric tonnes of Jubilee crude oil from the FPSO Kwame Nkrumah This represented crude oil on behalf of the Ghana Group comprising the Government of Ghana GoG and GNPC It represented the first lifting of crude oil from the Jubilee fields The barrels lifted comprised accumulated government royalties of 37 557 metric tonnes and accumulated GNPC s 13 75 per cent participating interest entitlement of 98 119 metric tonnes 10 See also Edit Africa portal Energy portal Companies portalGhana Oil CompanyReferences Edit Alex Mould Wikipedia 31 August 2022 retrieved 25 October 2022 Kofi Koduah Sarpong Wikipedia 16 August 2022 retrieved 25 October 2022 Okyere Gertrude 22 April 2022 Opoku Ahweneeh Danquah is new GNPC CEO Adomonline com Retrieved 25 October 2022 a b About GNPC gnpcghana com Archived from the original on 1 December 2011 Retrieved 4 June 2011 Yire Iddi 31 December 2017 GNPC wins two awards Ghana News Agency Archived from the original on 22 May 2018 Retrieved 21 May 2018 GNPC was established in 1983 under the Ghana National Petroleum Corporation GNPC Law 1983 PNDC Law 64 and started operations in 1985 Ghana National Petroleum Corporation GNPC State Enterprises Commission Ghana Archived from the original on 12 May 2018 Retrieved 21 May 2018 Prior to the establishment of GNPC in 1983 About Us GNPC Archived from the original on 27 November 2020 Retrieved 18 July 2020 SIGNIFICANT OIL DISCOVERY IN GHANA gnpcghana com Archived from the original on 25 March 2012 Retrieved 5 June 2011 GNPC confirms 10 initial interest in newly found oil in Ghana ghanabusinessnews com Archived from the original on 2 June 2011 Retrieved 5 June 2011 GNPC Lifts 994 691 Barrels of Crude Oil ghanaoilonline org Archived from the original on 17 August 2011 Retrieved 5 June 2011 Retrieved from https en wikipedia org w index php title Ghana National Petroleum Corporation amp oldid 1141342162, wikipedia, wiki, book, books, library,
