GNPC’s to Showcase Approach to Driving Sustainable Progress in Ghana’s Dynamic Energy Sector at AEW 2023

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Kwame Baah-Nuakoh, General Manager of Strategy and Investment at the Ghana National Petroleum Corporation, will speak at this year’s edition of the African Energy Week 2023 conference.

At the forefront of Ghana’s dynamic energy sector is the Ghana National Petroleum Corporation (GNPC), the nation’s dedicated national oil company (NOC). With a steadfast commitment to responsible oil and gas exploration and production, GNPC has been actively engaged in numerous projects within the industry. Notably, the corporation places significant emphasis on harnessing local expertise, and ensuring the active participation of Ghanaian talent in shaping the nation’s energy future. GNPC’s remarkable contributions are driving sustainable progress and innovation in Ghana’s energy landscape.

The African Energy Chamber (AEC), the voice of the African energy sector, is thereby delighted to announce that Kwame Baah-Nuakoh, General Manager of Strategy and Investment at GNPC, will speak at the African Energy Week (AEW) conference and exhibition, taking place from October 16–20 in Cape Town. Under efforts to ramp up investments, his participation will highlight the promising opportunities in Ghana’s oil and gas sector.

With over two decades of experience in various key roles, Baah-Nuakoh is a vital asset to Ghana’s energy landscape. As General Manager of Strategy and Investment at GNPC, he has facilitated investments and positioned Ghana as a prominent player in the global energy arena. He has also served as the General Manager of Sustainability at GNPC; Head of Strategic Planning, Research and Corporate Affairs at The Royal Bank; and International Relations Manager at Kumasi Asante Kotoko SC Ltd. His expertise in managing international partnerships, sports industry collaborations, and responsible financial practices has significantly impacted the academic landscape. Baah-Nuakoh’s visionary approach drives transformational growth and a sustainable, inclusive energy future for Ghana and the African continent.

As the General Manager of Strategy and Investment at GNPC, Baah-Nuakoh is actively involved in the company’s efforts to increase exploration and production and boost investments in Ghana’s oil and gas sector. The company first commenced operations in 1985, witnessing first oil production at the Jubilee field in December 2010. The Jubilee South East field, operated by the GNPC (19.69%) alongside Tullow Oil (38.98%), Kosmos Energy (38.61%), and South Africa’s NOC PetroSA (2.72%), is expected to average 37,000 barrels per day (bpd) by the end of 2023. The field recently started production.

Another notable project is the Pecan Phase 1 project, a $1.5 billion oil exploration and production initiative in Ghana, jointly operated by GNPC (10%), Aker Energy Ghana Ltd. (50%), Lukoil (38%), and Bulk Ship & Trade (2%). Its production of 82,500 bpd is expected to begin in 2025.

These partnerships reflect a strong dedication to boosting investments in Ghana’s oil and gas industry. The primary objective is to foster growth and progress in the sector by actively seeking new innovations and sustainable practices. By joining forces, the involved companies are demonstrating their collective commitment to maximizing the potential of Ghana’s oil and gas fields.

In a significant move towards enhancing energy security, the GNPC signed an agreement for a second gas processing plant with a capacity of 150 million standard cubic feet per day.  The advancement of this gas infrastructure and resource development will contribute significantly to growing the sector. This move highlights GNPC’s commitment to harnessing the country’s gas resources for sustainable energy development.

Meanwhile, GNPC is promoting local content by investing in the skills development. The company is committed to investing in Science, Technology, Engineering and Mathematics (STEM) education in Ghana to enhance local participation in the petroleum sector. The Ghanian government plans to establish five STEM-based universities, aligning with the goal of promoting STEM education at all levels. GNPC encourages corporate support for this policy and offers five scholarships to exceptional contestants for science-related programs at Ghanaian universities.

“GNPC’s unwavering commitment to innovative and efficient oil and gas exploration and production has positioned Ghana as a leading player in the global energy arena. With a focus on harnessing local expertise and driving sustainable progress, GNPC’s remarkable contributions are propelling Ghana’s energy landscape forward. As the General Manager of Strategy and Investment at GNPC, Baah-Nuakoh’s visionary approach is instrumental in fostering new investments and innovative approaches to enhancing exploration and production in the country’s oil and gas sector,” states NJ Ayuk, Chairman of the AEC.

AEW is the AEC’s annual energy conference and exhibition uniting African energy policymakers and companies with global investors to discuss the future of Africa’s energy sector. For more information about attendance, sponsorship and partnership opportunities, visit www.aecweek.com