Accra: The Ghana National Petroleum Corporation (GNPC) has unlocked US$3.5 billion in new investment through the extension of three petroleum agreements, even as Ghana faces its fifth consecutive year of declining crude oil production. The agreements, covering Deepwater Tano, West Cape Three Points, and Offshore Cape Three Points, are expected to sustain upstream activity and support future output over the next three years.
According to Ghana Web, speaking at its 3rd Annual General Meeting (AGM) in Accra, the Chief Executive Officer of GNPC, Kwame Ntow Amoah, said the investment will reinforce efforts to stabilise production and deepen gas commercialisation. Amoah emphasized GNPC's disciplined execution, stronger focus, and targeted interventions as critical measures to stabilize production, advance exploration, and enhance operatorship capabilities. Despite an average crude oil production of 102,199 barrels per day across key fields, GNPC achieved a notable increase in gas exports for domestic use, reaching 336 MMscf/d, surpassing the annual target.
Furthermore, GNPC reported robust financial performance for 2025, with gas revenue amounting to US$952.38 million, which comprised 65.6% of its standalone revenue. In a related development, the Dangote refinery secured $1 billion backing for a planned IPO, indicating growth in the region's energy sector.
The Minister of Energy and Green Transition, Dr. John Abdulai Jinapor, praised GNPC's resilience but highlighted the need to focus on renewed growth and sustainability. He stressed the importance of enhanced recovery, infill drilling, and disciplined exploration of frontier areas to sustain Ghana's petroleum industry. Dr. Jinapor pointed out opportunities in various fields and emphasized the need for sophisticated reservoir management and timely capital investment.
Additionally, the Energy Minister highlighted the government's commitment to strengthening GNPC's operatorship capability, aiming to maximize national value from Ghana's petroleum resources. Beyond its petroleum operations, GNPC invested US$6.57 million in corporate social programs in 2025, reinforcing its dedication to transparency and responsible stewardship through an enhanced ESG framework.