Business News of Fri, 19 May 20176
Freddie Blay led seven-member GNPC Board inaugurated
The seven-member GNPC Board chaired by the Acting National Chairman of the New Patriotic Party, Freddie Blay, has been inaugurated by the Minister of Energy, Emmanuel Boakye Agyarko.
The other members of the Board are Dr. K. K. Sarpong, Managing Director, Mr. Martin Kwabena Kwakye, (Oman FM’s Boiling Point fame) Prof. John S. Nabila, Mr. Yaw Kyei, Nana Adjoa Hackman and Ogyeahohoo Yaw Gyebi II.
Minister of Energy, Mr. Agyarko urged the new Board to adopt an aggressive posture towards oil exploration bearing in mind that the Volta Basin is yet to be explored.
He said it will be suicidal to depend on the Jubilee field since in ten to twenty years time, there will be no oil to explore.
The Volta Basin, he added, if explored will add more to the country’s GDP. “Booth oil and gas can sustain the country,” he added.
Continuing, he said the fact that Ghana is now an oil producing nation places a huge task on managers of the economy to maximise the resources very well. Therefore, there is the need to use it very well.
“In all our ways, it must be used wisely to inure to the benefits of all. Future generations must also come and acknowledge that the oil find also touched on their lives. This is an industry that demands high expectations. And so, the board members must plan their activities in such a way that they have good strategic vision for the GNPC,” he noted.
The Chairman of the Board, Freddie Blay, speaking on behalf of his colleagues promised to work hard to ensure that the current production level of about 108,000 barrels a day is increased to about 500,000.