Ghana National Petroleum Corporation CEO Joseph A. Dadzie will discuss Ghana’s latest deepwater drilling campaigns and plans to become a regional energy trading destination at the upcoming conference.
Joseph A. Dadzie, Ghana National Petroleum Corporation CEO
Ghana is set to initiate 17 oil and gas projects from 2023 to 2027, enhancing its oil and gas sector through new deepwater drilling initiatives and a $60 billion petroleum hub project. Joseph A. Dadzie, the newly appointed CEO of the Ghana National Petroleum Corporation (GNPC), will address the nation’s strategies to increase production, expand domestic refining capabilities, and establish a diversified energy economy at the African Energy Week: Invest in African Energy 2024 event in Cape Town this November.
The upstream oil and gas sector in Ghana is currently witnessing a resurgence, fueled by new projects that aim to boost the country's oil production capacity, explore new reserves, and counteract declining output. Notable initiatives include Tullow Oil’s deepwater Jubilee Field, which plans to bring three new producer wells and two water injectors online this year. With two producer wells already operational, the field's production has surpassed 100,000 barrels per day (bpd). The ultra-deepwater Pecan Phase 1A Upstream Project, spearheaded by GNPC, Aker Energy, and Lukoil, is in the approval phase and is anticipated to commence commercial production in 2025. Furthermore, the Ntomme Far West Development is in the pre-feasibility stage, with advancements made towards drilling the initial well.
AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
The downstream oil and gas sector in Ghana is experiencing substantial growth, highlighted by significant infrastructure initiatives such as the $700-million gas processing facility at Atuabo and the $380-million Tema VI Liquids Storage Terminal, which are enhancing the nation's refining and storage capabilities. Furthermore, in June 2024, the Ghanaian government concluded agreements to initiate the first phase of West Africa's inaugural integrated downstream petroleum hub. This project, backed by the TCP-UIC private-sector consortium, will unfold in multiple phases and encompass three refineries, five petrochemical plants, storage tanks, jetties, a port, and related LNG and logistics infrastructure. This development aligns with Ghana's ambition to establish itself as the leading energy trading hub in West Africa. In July 2024, the country also formalized agreements with Senegal and The Gambia to boost the export of petroleum products, thereby expanding its existing network that includes Mali, Niger, Burkina Faso, Ivory Coast, and Togo.
In parallel, the Ghana National Petroleum Corporation (GNPC) has played a crucial role in promoting local content within the nation's oil and gas sector, with the objective of maximizing the involvement of Ghanaian enterprises and professionals in the industry. The National Oil Company (NOC) has actively facilitated the enhancement of local skills and capacities through collaborations with educational institutions and specialized training initiatives. In May 2024, the GNPC Foundation announced the opening of applications for its local scholarship program for the 2024/2025 academic year, aimed at undergraduate and postgraduate students pursuing degrees in Ghana. Additionally, GNPC's initiatives include partnerships with International Oil Companies (IOCs) to ensure the transfer of technology and knowledge, thereby further integrating local expertise into the sector and directly addressing the existing skills gap.
"GNPC’s participation at AEW 2024 will shed valuable insight into Africa’s energy future, as Ghana represents one of the most historic producers on the continent. With new deepwater and ultra-deepwater projects in the pipeline – in addition to the multi-billion-dollar petroleum hub initiative – GNPC will enhance discussions on energy security, local content and sustainable growth for stakeholders looking to invest in African energy,” said NJ Ayuk, Executive Chairman of the African Energy Chamber.