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The Ghana National Petroleum Corporation (GNPC) has employed a 4D seismic facility and is almost starting Ocean Bottom Node Seismic technology acquisition for the Voltaian Basin. In GNPC’s 2024 Annual Report, the Acting Chief Executive of GNPC, Kwame Ntow Amoah, announced that the long-term vision is to transform the Basin into a new frontier of petroleum activity that supports national energy security and economic diversification. Ntow Amoah said the transition of the Basin’s management from the corporate level to GNPC’s upstream subsidiary, Explorco, reflects a deliberate strategy to infuse the project with greater technical agility and operational focus. The corporation has already processed one thousand and forty line-kilometres of 2D seismic data and secured a two-year reconnaissance licence for the Voltaian Basin Project from the Ministry of Energy to advance exploration activities. The Voltaian Basin, which spans nearly 40 percent of Ghana’s landmass, holds enormous geological potential comparable to prolific hydrocarbon provinces across Africa. Board Chairman of GNPC, Professor Joseph Oteng-Adjei, said Explorco’s central role in the Voltaian Basin Project demonstrates GNPC’s determination to lead Ghana’s upstream petroleum operations and to ensure that the benefits of petroleum resources directly serve national development objectives. The Independent Auditors’ Report by Deloitte contained in GNPC’s 2024 Annual Report covered GNPC’s standalone and group financials, including subsidiaries such as Explorco, Prestea Sankofa Gold, Mole Motel, and the GNPC Foundation. The report showed that the group recorded total revenue of 1.33 billion dollars, a 15 percent rise from 1.16 billion dollars recorded in 2023, mainly driven by higher gas sales, which contributed 67 percent of the total income. Despite a 3 percent decline in crude oil revenue due to fewer liftings, GNPC’s overall performance remained robust, with gas revenues increasing by 25 percent to 884.51 million dollars. Profit after tax for the group stood at 60.30 million dollars, underscoring what Deloitte described as a sound commercial and financial management framework. The report is expected to boost investor confidence in Ghana’s upstream petroleum sector and reinforce GNPC’s image as one of Africa’s leading national oil companies committed to accountability and operational excellence.
