The Acting CEO of the Ghana National Petroleum Corporation (GNPC), Kwame Ntow Amoah, has outlined a forward-looking vision for the Corporation, positioning it within the broader policy context of Ghana’s upstream reset agenda.

His presentation at the 8th edition of the Africa Energies Summit emphasised the need for strategic investment and innovation to tackle production challenges and sustain long-term growth.

Speaking to an audience of industry leaders, policymakers, and global energy stakeholders, Mr. Ntow addressed the theme, “Taking Ghana to the Next Level: Advancing Oil & Gas Exploration & Production.”

He presented GNPC’s comprehensive strategy to reverse the decline in oil production experienced over the past eight years.

Mr Kwame Ntow noted that Ghana’s crude oil output has dropped sharply from a peak of 195,750 barrels per day (bopd) in 2019 to about 110,500 bopd in recent years.

He attributed this decline to falling field productivity, limited exploration, and fiscal policy challenges.

“Achieving sustainable growth in Ghana’s oil and gas sector requires bold thinking and a willingness to embrace innovation,” he said.

“To truly take Ghana to the next level, we must go beyond drilling more wells. We need to reimagine our upstream strategy with data-driven decisions and modern technologies.”

He emphasised GNPC’s commitment to deploying advanced technologies, such as Artificial Intelligence, to guide investment in exploration and production.

The Corporation, he said, plans to use digital tools to improve reservoir management, optimise drilling, and enhance seismic data acquisition.

One key strategy includes the adoption of 4D seismic and Ocean Bottom Node (OBN) technologies, which deliver higher-resolution subsurface data.

GNPC is also exploring non-seismic options such as satellite imagery and Airborne Transient Pulse surveys to reduce exploration risk, especially in the underexplored Voltaian Basin.

Mr. Kwame Ntow stressed the need for stable, transparent, and investor-friendly policies to attract new entrants into the sector.

“While Ghana’s geological prospects remain strong, we must address the perceived risks of frequent regulatory changes,” he noted.

“GNPC itself is a local investor and shares these concerns. We need a new mindset—one that balances investment, innovation, and sustainability.”

He called for greater collaboration between local and international oil companies, service providers, and technology innovators.

According to him, joint operator projects and the integration of marginal fields into shared developments can reduce costs and improve resource utilisation.

GNPC, he said, is committed to playing a central role under the President’s vision of transforming the Corporation into a centre of excellence in Africa.

This includes championing partnerships that prioritise local capacity and indigenous expertise.

Beyond short-term recovery, Mr. Kwame Ntow called for a long-term focus on sustainability, responsible environmental practices, and social accountability.

He affirmed GNPC’s alignment with global trends in decarbonization and cleaner energy.

“Resetting our upstream agenda is not just about boosting production—it’s about building a more resilient and sustainable energy future for Ghana,” he said.

The summit ended with a call to action for stakeholders to seize emerging opportunities and support GNPC’s mission to responsibly unlock Ghana’s hydrocarbon potential.

Mr. Ntow’s strategy, anchored on innovation and collaboration, underscores GNPC’s commitment to halting production decline, sustaining output, and optimising resource use.

It also reflects the leadership of the Minister of Energy and Green Transition in driving Ghana’s transformation toward a balanced energy future, combining development with sustainability.