GNPC Has Not Achieved Operatorship Status, PIAC Declares - Africa’s premier report on the oil, gas and energy landscape.

GNPC Has Not Achieved Operatorship Status, PIAC Declares

Ghana National Petroleum Corporation (GNPC) says it has achieved the first part of the objective of “becoming a stand-alone Operator by 2019 and a world-class operator by 2027”.

But the Public Interest Accountability Committee (PIAC) demurs, arguing that GNPC is yet to achieve anywhere close to any of the objectives. But the PIAC does not explain its disagreement with GNPC’s claim to operatorship.

According to GNPC, the role of Operator will allow it to retain maximum benefits for Ghanaians including the ability to:

  •  align reserve management policies with national development policy
  • control technical operations and contracting processes
  •  allow better support of local content development
  •  build effective systems and processes
  •  appropriate a greater share of revenue and benefits for the nation.

“In GNPC’s assessment of progress against its overarching goal, it asserts that it has attained operatorship, citing its role in the Voltaian Basin and the OGH_WB_01 – Shallow water Block”, PIAC says in its annual report.  “GNPC further points to its role in managing interests in various assets, including the Saltpond Field decommissioning activities as well as the Corporation’s capacity along the upstream value chain, and capabilities in the upstream petroleum industry, as it is a party to all upstream Petroleum Agreements in Ghana as well as its plans to operate two onshore blocks by 2021 as evidence of its operatorship status”.

PIAC says that its “assessment of GNPC’s claims in the light of the definition of operatorship under Act 919, found no evidence to support GNPC’s claim of attaining operatorship”.

This story was initially published in the August 2020 issue of the Africa Oil+Gas Report

Share Article


No comments yet.

Leave a comment

Comment form

All fields marked (*) are required

© 2024 Festac News Press Ltd..