GNPC seeks Parliament’s approval of over Two Billion Cedis for its Activities

GNPC seeks Parliament’s approval of over Two Billion Cedis for its Activities


The Ghana National Petroleum Corporation (GNPC) has requested that Parliament approves over Two Billion Cedis (GH 2,631,650,000.00 cedis) for the Corporation to undertake its planned Activities within the year 2016.

The Corporation seeks to use the money to undertake petroleum development and production projects within the year.  The Greater Jubilee Field Development, the Tweneboa-Enyenra- Ntomme (TEN) Development, the Sankofa-Gye-Nyame (SGN) Development and the Saltpond Offshore Production are some of the projects. The rest of the projects are the New Office Building, Research and Technology (RAT), the Beach Road Redevelopment, the National Emergency Response Centre and the ICT Upgrade Expansion.

Briefing Parliament on the Report, the Chairman of the Committee on Mines and Energy, Amadu Sorogho informed the House that ‘having duly scrutinised  the Programme of Activities of the GNPC and the associated financial requirements for the 2016 Financial Year, the Committee believes that they fall within the scope of the mandate of the Corporation under the PNDC Law 64.’

He added that the Activities have also been found to be in line with the Corporation’s strategic objective of becoming a stand-alone operator in 2019 and a world class operator by 2027.

‘The Committee therefore recommends to the House to adopt its Report and to approve the Programmme of Activities of the GNPC for the year 2016 in accordance with Section 7(3)(b) of the Petroleum Revenue Management Act, 2011 (Act 815)’, the Chairman entreated the House.

The Legislators strongly debated on the Report and Members on the Minority Side were not enthused with the Report hence urged the House to reject it.

The First Deputy Speaker, Hon. Ebo Barton-Odro deferred the debate on the Report and directed leadership to programme the Petroleum Minister to appear before the House to clarify certain issues on the Report.