{"id":263157,"date":"2025-11-14T21:50:09","date_gmt":"2025-11-14T21:50:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/263157\/"},"modified":"2025-11-14T21:50:09","modified_gmt":"2025-11-14T21:50:09","slug":"gnpc-to-begin-voltain-basin-drilling-in-october-2026-minister-of-finance","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/263157\/","title":{"rendered":"GNPC to begin Voltain Basin drilling in October 2026 \u2013 Minister of Finance"},"content":{"rendered":"

\"GNPC play video<\/a>GNPC will commence drilling for oil in the offshore Voltain Basin in October 2026<\/p>\n

The Minister of Finance, Dr Cassiel Ato Forson<\/a>, has announced that the government is positioning the Ghana National Petroleum Corporation (GNPC) at the centre of a major national effort to revive the country\u2019s declining oil production.<\/p>\n

According to him, GNPC will commence drilling for oil in the offshore Voltain Basin in October 2026, a move he described as pivotal to expanding Ghana\u2019s hydrocarbon output.<\/p>\n

He made this known while presenting the 2026 Budget Statement in Parliament on November 13, 2025.<\/p>\n

2026 Budget: Ghana secures $3.5 billion in oil and gas investments – Finance minister<\/a><\/p>\n

\u201cMr. Speaker, the Ghana National Petroleum Corporation (GNPC) will commence drilling for oil on the offshore Voltain Basin in October 2026. The prospects look good to expand Ghana\u2019s hydrocarbon production,\u201d he said.<\/p>\n

The Voltain Basin project represents one of the most significant state-led upstream initiatives in recent years. It comes at a time when Ghana\u2019s oil production has sharply declined, falling from 71.4 million barrels in 2019 to an estimated 36 million barrels in 2025, representing a near 50 percent drop.<\/p>\n

Dr Forson told Parliament that President John Dramani Mahama<\/a>\u2019s administration has prioritised reversing this trend by empowering GNPC and strengthening the regulatory environment.<\/p>\n

As part of this broader revival effort, he noted that government reforms have already attracted more than US$3.5 billion in new oil and gas investment commitments in 2025. <\/p>\n

These include a US$2 billion agreement to drill 20 new wells in the Jubilee and TEN fields, and a US$1.5 billion Memorandum of Intent with OCTP partners to expand operations.<\/p>\n

However, Dr Forson emphasised that GNPC\u2019s new exploratory role in the Voltain Basin represents the long-term anchor of Ghana\u2019s petroleum future.<\/p>\n

\u201cMr. Speaker, this is a decisive step toward increasing our oil and gas production and ensuring Ghana fully benefits from its hydrocarbon potential,\u201d he noted.<\/p>\n

He added that government is also undertaking an upstream regulatory and fiscal review aimed at making Ghana\u2019s petroleum regime \u201cmore competitive, transparent and stable,\u201d creating a favourable environment for both GNPC and private investors.<\/p>\n<\/p>\n

MA<\/p>\n","protected":false},"excerpt":{"rendered":"play videoGNPC will commence drilling for oil in the offshore Voltain Basin in October 2026 The Minister of…\n","protected":false},"author":2,"featured_media":263158,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":{"0":"post-263157","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/263157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=263157"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/263157\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/263158"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=263157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=263157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=263157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}