Investors are free to join GNPC - Dr. K.K Sarpong

The Chief Executive Officer of the Ghana National Petroleum Corperation, GNPC, Dr. K.K Sarpong has reaffirmed the Corporation’s commitment to the country that, it would continue to lead the oil and gas industry by continuing to play the sector enabler role.

This, according to him, has been pivotal in recent years, thereby restoring credit worthiness along the gas-to-power value-chain for sustainable fuel delivery, to drive national development.

This he said, is because, the GNPC notes that Ghana’s rising oil production raises critical revenues for the government, provides gas for local consumption and industrial development will therefore arguably have a greater impact on the local economy.

Dr. Sarpong was speaking at the naming of the MV “John Agyekum Kufour”, Ghana’s latest FPSO in Singapore.

It was named after Ghana’s former President who is credited with restructuring the GNPC which has aggressively ensured the marketing of Ghana’s hydrocarbon potential which, according to him “culminated in the discovery of the World Class jubilee Field” during his tenure in office.

The naming which was done by Ghana’s First Lady, H.E. Rebecca Akufo-Addo, markes “yet another important milestone for GNPC, its Sankofa-GyeNyame partners and for Ghana” he said.

“This occasion signals our progress towards bringing on stream our third field which is a game-changer as far as its strategic importance to the nation is concerned,” Dr Sarpong assured.

He revealed that “gas produced from the Sankofa Gye-Nyame fields will supplement and replace some liquid fuel that is presently burned to generate power, thereby lowering costs, boosting efficiency and cutting emissions to the barest minimum”.

He emphasised that, “this major discovery significantly de-risked Ghana’s basins to attract more investors. Indeed, the investors currently knocking on our doors are warmly welcome to join GNPC in a mutually profitable exploitation of our petroleum resources”.

“We are sure, that President Kufuor will applaud the progress made in local content policy, legislation and practice that have informed the development of TEN, Sankofa Gye-Nyame infrastructure and similar projects planned for the future”, he added.

Dr. Sarpong, congratulated GNPC’s partners, ENI and Vitol, as well as the Keppel Shipyard for their contribution to delivering the FPSO on target and on budget.

“To H.E. the First Lady, we say “thank you” for gracing this occasion," he added.