GNPC CEO to Share Ghana’s Sustainable Investment Approach at AEW 2023

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  • GNPC CEO to Share Ghana’s Sustainable Investment Approach at AEW 2023

As CEO of the Ghana National Petroleum Corporation, Opoku-Ahweneeh Danquah will lead discussions around Ghana’s exciting oil and gas outlook, offering potential players with the insights they need to invest in the promising market.

The African Energy Chamber (AEC) – the voice of the African energy sector – is proud to announce that Opoku-Ahweneeh Danquah, CEO of the Ghana National Petroleum Corporation (GNPC), will participate at the 2023 edition of the African Energy Week (AEW) conference and exhibition – Africa’s premier event for the energy sector, scheduled for 16 – 20 0ctober in Cape Town. During the event, Danquah will lead high-level panel discussions around Ghana’s oil and gas outlook, the GNPC’s sustainable investment approach, and the ways in which local content, energy poverty alleviation and economic growth are being prioritized.

As the national oil company (NOC), the GNPC is responsible for the exploration, production, licensing and distribution of petroleum products, and as such, plays a vital role in balancing energy security efforts with sustainable hydrocarbon development. The organization places environmental, social and corporate responsibility at its core, and through various initiatives aimed at climate change mitigation, job creation and economic growth, the GNPC is spearheading sustainable practices across the oil and gas sector. Notable initiatives include the GNPC Going Green program, aimed at improving environmental sustainability. Additionally, the NOC is responsible for spearheading local content implementation, serving as an agent for the government’s local content agenda. From ensuring preference is given to local contractors, companies and employees to investing in the domestic market to introducing educational and training initiatives, the GNPC is committed to maximizing the benefits of oil and gas for the local population.

Meanwhile, representing one of Africa’s fastest growing oil and gas markets, the participation of Danquah at AEW 2023 will be crucial for highlighting investment opportunities across the entire energy value chain in Ghana. Currently, the country is pursuing an ambitious upstream drive, and is seeking new partners to accelerate the pace at which the country develops its untapped acreage. Three major upstream projects are underway including Phase One of the Pecan Conventional Oilfield, the Jubilee South East field – which commenced production this month – and the Ntomme Far West Development. Additionally, the GNPC announced in June 2023 that it is undertaking a multi-well drilling campaign in the Voltaian Basin – planned for early 2024 – and onshore drilling in the country’s Northern and Savannah Regions. As such, opportunities global exploration and production companies and investors are growing and AEW 2023 represents the ideal platform for potential players to connect with Danquah and other GNPC representatives.

In the downstream and midstream sectors and under the leadership of Danquah, the GNPC is working towards expanding refining capacity and enhancing distribution capabilities through the deployment of large-scale projects. During the period 2023-2027, up to 14 projects are set to be developed. Midstream, projects underway include the Tema Floating Liquefied Natural Gas (FLNG) Plant, the Tema VI Liquids Storage Terminal, the Dixcove Oil Storage Facility, the Wa Oil Storage Facility and the Tema-Akosombo II and Tema Pipelines. Downstream, a $210 million Prestea gas processing plant and the construction of two new refineries with a capacity of 100 million barrels per day (bpd) and 5 million bpd, respectively, are making progress. At AEW 2023, Danquah will provide insight into these developments and the many more set to be announced while promoting the country’s local content development and employment creation efforts.

As the CEO of GNPC, Danquah is well positioned to shape AEW 2023 discussions around best practices for Ghana to balance energy security with energy transition efforts. A highly versatile and proactive industry leader with vast international experience in strategic planning, oil and gas marketing, economic modelling, market research, and mergers and acquisitions, Danquah’s contribution to Ghana’s energy market has and continues to be instrumental. Prior to his current role, Danquah served as Deputy CEO of the GNPC as well as in various positions at companies such as Vallourec, Baker Hughes, Schlumberger (now SLB), Hart Energy, Wood Mackenzie and IHS CERA. Danquah’s over 18 years of experience in the energy sector makes the executive the ideal person to drive AEW 2023 dialogue around how best Africa can maximize the utilization of its hydrocarbon resources while accelerating diversification through the deployment of renewables to make energy poverty history by 2030.

“NOCs such as the GNPC are set to play a much larger role in Africa’s energy market as we witness international oil company divestment, increased regional demand and global pressures mounting to transition to a clean energy future. Representing both the government’s interests and the population at large, NOCs are well equipped to lead the next wave of energy developments in Africa. With a focus on sustainability and energy security, the GNPC serves as an example for other NOCs in Africa,” stated NJ Ayuk, the Executive Chairman of the AEC.

AEW is the AECs annual event gathering African energy policymakers with global investors to discuss the future of African energy. For more information about AEW 2023, visit www.aecweek.com