The Ghana National Petroleum Corporation (GNPC) is actively seeking strategic partners to assist in the development of the Volta Basin, a large onshore sedimentary basin believed to contain over 11 billion barrels of oil equivalent resources.
Hamis Ussif, the Deputy Chief Executive Officer of GNPC, stated that the corporation is strategically positioning itself to attract investments into the basin, which occupies nearly 40 percent of Ghana’s land area and offers substantial opportunities for hydrocarbon exploration and development.
During his address at the West African Gas Summit in Accra, Mr. Ussif characterized the Voltaian Basin as one of Ghana’s most promising untapped energy frontiers.
“By very conservative estimates, this can unlock over 11 billion barrels of oil equivalent,” he remarked. “The potential is immense, and GNPC is seeking partners at the opportune moment to tap into the resources available in this basin.”
He further explained that the basin covers nearly half of the nation and includes several regions lacking significant hard mineral deposits, making its development essential for expanding economic opportunities throughout Ghana.
Mr. Ussif highlighted that GNPC holds an equity interest in all petroleum blocks in Ghana, in accordance with national policy, and is engaged in exploration activities within the basin alongside private sector operators.
He emphasized that the development of the Voltaian Basin is part of broader initiatives to enhance Ghana’s energy sector and support the government’s goal of establishing the country as an energy hub for the West African sub-region.
Mr. Ussif elaborated that GNPC’s investments in key projects, such as liquefied natural gas infrastructure and the West African Pipeline initiative, are designed to facilitate the cross-border movement of energy resources while bolstering Ghana’s position in regional energy trade.
“All these projects aim to ensure not only the seamless flow of these molecules but also to position Ghana as a central player in the energy sector, encompassing not just gas.
He mentioned that Ghana’s increasing power generation capacity currently allows the nation to export electricity to adjacent countries, establishing a solid basis for its goal of becoming a regional energy hub.
