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| HISTORY OF GNPC & EXPLORATION IN GHANA |
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1980's - LEGAL FRAMEWORK
In the early 1980s, the government established a new statutory and legal framework for petroleum exploration as well as institutional capacity in order to accelerate the country's Exploration and Production (E & P) efforts. Ghana National Petroleum Corporation Law, 1983 P.N.D.C. Law 64 and Petroleum (Exploration and Production) Law, 1984, PNDC Law 84 were enacted. PNDCL 64 established the Ghana National Petroleum Corporation (GNPC) as a statutory corporation with commercial functions to handle the country's E & P activities. GNPC started operations in 1985, the same year the Saltpond Field was shut-in. Prior to the establishment of GNPC in 1983, the well count onshore and offshore Ghana was 54, while 2D seismic coverage remained considerably sparse. GNPC funded the acquisition of several vintages of 2D seismic over blocks onshore and offshore Tano, offshore Saltpond basin, onshore and offshore Keta basin, which led to a densely gridded 2D seismic coverage offshore and attracted more oil and gas companies into Ghana. |
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1990's - OIL EXPLORATION
In the late 1990s and early 2000, significant milestones were achieved in our exploration efforts. They include an extensive 2D seismic acquisition offshore Saltpond Field, 3D seismic acquisition offshore by GNPC, the WCTP-2X oil discovery in deepwater by Hunt Oil, and Dana Petroleum Plc.'s heavy oil discovery with the WT-1X well.
Prior to the Mahogany significant commercial discovery in June 2007, GNPC spent years and scarce resources recovering, reorganising, reprocessing and interpreting petroleum data available to improve the exploration database and packaging it for promotion to the international industry. These promotional efforts succeeded in attracting credible oil and gas companies such as Hunt Oil Company, Dana Petroleum, Devon Energy, Santa Fe Energy Resources, Anadarko, Tullow Oil, Kosmos Energy, Eni etc. into Ghana. |
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2007 - OIL DISCOVERY
The discovery of significant oil and gas accumulations in 2007 and the commencement of production of the Jubilee field in November 2010 were the most significant events in Ghana's O&G sector in the last 2000s. With Jubilee, the floodgates appear to have opened to further investments/exploration activities.
Ghana's O&G sector is rapidly transforming on every front – investment (both core and ancillary), scale of operations, discoveries and reserves, policy, legislation and new institutions.
Seismic Data coverage has increased: 2D seismic data totalled about 70,000 line kilometres in 2011, while 3D seismic coverage is over 24,000 sq. km. Over 160 wells have so far been drilled in Ghana's sedimentary basins. |
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EXPLORATION COMPANIES
Oil and gas companies that have explored onshore and offshore Ghana include Mobil, Shell, Volta Petroleum, Texaco, AgriPetco, Philips Petroleum, Amoco, PetroCanada, Arco, Agip, Nuevo Oil Company, Hunt Oil Company, Dana Petroleum, Santa Fe Energy Resources, Fusion, Devon Energy,Lukoil, Vanco Energy, Oranto Petroleum, Tap Oil, Ophir Energy, Afren Energy etc.
IOCs that currently operate in Ghana include Kosmos Energy, Tullow, Anadarko, Sabre Oil & Gas Holdings, Hess Corporation, Vitol Upstream, Eni, AGM Petroleum Cola Natural Resources Limited, Medea Development Ltd holds, A-Z Petroleum Products Ghana Limited, ECO Atlantic Oil & Gas Limited, etc. |
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