GNPC seeks partners to unlock Volta Basin's oil potential

The Deputy Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Hamis Ussif, has revealed that the Voltaian Basin could hold more than 11 billion barrels of oil equivalent, as the corporation steps up efforts to attract investors to develop the country's largest untapped hydrocarbon resource.

According to him, GNPC is actively seeking strategic partners to help unlock the basin's vast potential and support Ghana's long-term energy development agenda.

Speaking at the West African Gas Summit in Accra, Ussif described the Voltaian Basin as one of the most promising frontiers for oil and gas exploration in the country.

"By very conservative estimates, this can unlock over 11 billion barrels of oil equivalent. The potential is very huge, and GNPC is looking for partners at the right time to unlock the resources that exist in this basin," he said.

Ussif explained that the basin covers nearly 40 percent of Ghana's landmass and stretches across several regions that have not benefited significantly from major mineral discoveries.

He noted that successful exploration and development of the basin could create jobs, attract investment and open up new economic opportunities for communities within the area.

Ussif further stated that GNPC continues to maintain equity participation in all petroleum blocks across the country and is working with private sector operators to expand exploration activities.

He added that the development of the Voltaian Basin forms part of broader efforts to strengthen Ghana's energy sector and position the country as a leading energy hub in West Africa.

According to him, GNPC's investments in strategic projects, including liquefied natural gas infrastructure and regional pipeline initiatives, are intended to boost energy trade and improve the movement of petroleum products across the sub-region.

"All these projects are to facilitate not only the free flow of these molecules but also to position Ghana to be able to play this role of being the hub of energy in general, not only gas," he stated.

Ussif expressed confidence that Ghana's growing power generation capacity and expanding energy infrastructure provide a strong foundation for the country's ambition to become a key player in the regional energy market.

ANAS/SA

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