The Ghana National Petroleum Corporation (GNPC) and the Petroleum Commission (PC) have signed a Promotion, Marketing and Revenue Sharing Agreement covering all data acquired under GNPC’s Reconnaissance License on the Voltaian Basin Project.
The agreement, formalised at a brief meeting at GNPC’s Training Centre at Mankata Avenue in Accra, provides a framework for the joint promotion and marketing of 2D seismic and geochemical data collected by GNPC.
It also outlines modalities for revenue sharing from future data licensing activities.
The signing of the agreement highlights GNPC and PC’s commitment to accelerating upstream investment in Ghana’s onshore sedimentary basin, while ensuring value creation and fair benefit-sharing from national data resources.
The Acting Chief Executive Officer of GNPC, Kwame Ntow Amoah, who signed on behalf of GNPC, said: “The agreement marks a significant step forward in maximising the value of Ghana’s data assets while ensuring transparency and collaboration between the National Oil Company and the Regulator.”
He called on all stakeholders to stay the course, reset where necessary, and unlock the full value that the Voltaian Basin Project holds for the country.
“This project is a lifeline. With the right investment and commitment, we can replicate the success of Ghana’s offshore sector right here onshore — and lead this development on our terms,” he added.
Emeafa Hardcastle, CEO of the PC, on her part, welcomed the agreement as timely and forward-looking, describing the partnership as “a demonstration of both institutions’ commitment to advancing Ghana’s upstream agenda.”
“This agreement couldn’t have come at a better time. We will continue to collaborate and strategise to ensure smooth, seamless progress for our industry,” she said.
She thanked GNPC for its sustained collaboration and assured the Corporation of the Commission’s utmost support in marketing Ghana’s resources to deliver maximum shared gains.
The Voltaian Basin Project is GNPC’s flagship onshore initiative aimed at unlocking Ghana’s untapped hydrocarbon potential in the country’s inland sedimentary basin.
Source: myjoyonline.com
