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.