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 COMPANY PROFILE
The Ghana National Petroleum Corporation (GNPC), established by statute in 1983, with Functions of Exploration, Production, Development and Disposal of petroleum, became operational to oil companies in 1985. Its Vision is to be a well established and commercially sound business organisation that can be a match for other players in the industry, with a Mission to always make available at the least cost, within the Ghanaian economy, petroleum products needed for various activities in the country. Since its establishment, it has actively promoted Ghana’s hydrocarbon potential to oil companies. GNPC is currently working in association with Hunt Oil, Santa Fe Energy, Dana Petroleum, Nuevo and Yukong as well as West Oil who have signed agreements for exploration in Ghana.
 PROJECTS OF THE GNPC
GNPC is undertaking the Tano Fields Development and Power Project through which natural gas reserves in the Tano Basin will power gas turbines mounted on barges. Transmission lines to interconnect this south-western coastal area of Ghana to the national grid are also being constructed.
The Corporation is also cooperating with the Nigerian Gas Company (NGC), a subsidiary of Nigeria National Petroleum Corporation (NNPC) , as well as other industry players in the sub-region, to develop regional gas pipeline infrastructure to pool together natural gas reserves from Nigeria with the rest of the sub-region.
Tano Fields Development and Power Project
Currently under development by the Ghana National Petroleum Corporation (GNPC) is a project to introduce about 260MW of additional generation capacity in Ghana fueled by indigenous natural gas resources. This project has become a matter of the highest priority because of the increasing electricity consumption occasioned by the success of the Economic Recovery Programme. Low rainfall levels have also adversely affected generation capacity of the two dams on the Volta Lake. It has become clear that Ghana cannot depend entirely on hydropower.
Oil and gas reserves in the Tano Fields, situated about 20km and 35km offshore Southwest Ghana, are being developed.
The natural gas will feed turbines to be located on barges in the nearby coastal area. This will be the first gas-fired power generation in Ghana.
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This project will also assist with government’s rural electrification programme by introducing power into a part of Ghana previously off the national electricity grid. About 160km of new transmission lines are being constructed as part of the project.
GNPC’s power project is strategically located to serve an area which has, within the last few years, seen a rapid growth in gold mining and other industrial activities. GNPC’s power project will fuel the development of the natural and human resources of this area.
GNPC has established for the project, a subsidiary, Western Power Company, which is currently wholly owned by GNPC, but it is intended to have a significant private investor participation.
It has already attracted the interest of a number of potential strategic investors.
New 3-D data set to accelerate the Tano Fields development
The West African country of Ghana has an attractive upstream oil industry. She has five(5) offshore basins with diverse playtypes. Two of them have onshore extensions. There is also one(1) wholly onshore basin. These basins have commercially viable oil and gas fields, and more exploration work is currently being undertaken by five international companies working alongside the Ghana National Petroleum Corporation. The North and South Tano oil and gas fields which the GNPC is developing, have reserves of about 200 BCF of Gas and 14 MMBLS of oil which will be used for power generation.
A 814km2 high quality 3-D data set has been acquired by CGG on behalf of the GNPC over the North and South Tano fields and the adjoining areas. This data set was acquired in April this year and the processing is expected to be completed this year.
The new 3-D survey also covers substantial portions of acreage licensed to Dana Petroleum of the UK and West Oil, an Australian company. It is expected that the 3-D will enhance prospectivity of these blocks tremendously, and the data can be made available to potential farm-in partner on terms to be negotiated. Both Dana and West Oil have indicated their interest in partners.
This data will be made available for inspection by potential farm-in partners and other interested parties.
Tel: 233 -21 /71 29 30 / 233 -22 /20 60 20
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© World INvestment NEws, 1999.
This is the electronic edition of the special country report on Ghana published in Forbes
December 13th 1999 Issue.
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GHANA
