Gambia National Petroleum Corporation
Stand: N22
The Gambia National Petroleum Corporation (GNPC) is a state-owned company that was established in 2003 under the Companies Act of The Gambia. In 2014, GNPC was enacted as a Statutory Corporation by the Government of The Gambia through an Act of Parliament. GNPC is fully owned by the Government of The Gambia, in whose executive all natural resources rights are vested.
GNPC was set up to conduct petroleum operations on behalf of the Gambian government. Its key functions as outlined in the GNPC Act 2014 are:
To undertake petroleum operations including exploration, development, production and disposal of oil and gas resources.
To buy, sell, trade, store, exchange, import or export petroleum, natural gas, petroleum products, asphalt, mineral oils, ozokerite (mineral wax), or similar substances. For this purpose, GNPC can acquire or operate any installations, facilities or means of transport.
To engage in research and development programs related to petroleum, petroleum products or similar substances.
To engage in any other business activity incidental or conducive to the attainment of the above objects.
Essentially, GNPC handles the upstream oil and gas operations in The Gambia on behalf of the government. This includes conducting seismic surveys, exploring for hydrocarbon resources, developing discoveries into production, and managing the resulting oil and gas production.
The company is governed by a Board of Directors as provided under the GNPC Act 2014. The principal place of business for GNPC is located at Petroleum House in Brusubi, The Gambia.
As the national oil company, GNPC plays a strategic role in helping The Gambia build up its petroleum industry. The company is tasked with accelerating exploration efforts with partners to achieve new oil and gas discoveries. This will boost domestic exploration and production in other to support The Gambia's goal of greater energy self-sufficiency.
GNPC also aims to develop technical capabilities and human capital locally. By promoting training and technology transfer, GNPC helps to build Gambian expertise in various oil and gas technical specialties.
Overall, GNPC serves as a key vehicle for the Government of The Gambia to develop the nation's petroleum resources. With its upstream mandate, the corporation is positioned to enhance energy sustainability and revenue streams for the country through prudent management of oil and gas operations.
GNPC was set up to conduct petroleum operations on behalf of the Gambian government. Its key functions as outlined in the GNPC Act 2014 are:
To undertake petroleum operations including exploration, development, production and disposal of oil and gas resources.
To buy, sell, trade, store, exchange, import or export petroleum, natural gas, petroleum products, asphalt, mineral oils, ozokerite (mineral wax), or similar substances. For this purpose, GNPC can acquire or operate any installations, facilities or means of transport.
To engage in research and development programs related to petroleum, petroleum products or similar substances.
To engage in any other business activity incidental or conducive to the attainment of the above objects.
Essentially, GNPC handles the upstream oil and gas operations in The Gambia on behalf of the government. This includes conducting seismic surveys, exploring for hydrocarbon resources, developing discoveries into production, and managing the resulting oil and gas production.
The company is governed by a Board of Directors as provided under the GNPC Act 2014. The principal place of business for GNPC is located at Petroleum House in Brusubi, The Gambia.
As the national oil company, GNPC plays a strategic role in helping The Gambia build up its petroleum industry. The company is tasked with accelerating exploration efforts with partners to achieve new oil and gas discoveries. This will boost domestic exploration and production in other to support The Gambia's goal of greater energy self-sufficiency.
GNPC also aims to develop technical capabilities and human capital locally. By promoting training and technology transfer, GNPC helps to build Gambian expertise in various oil and gas technical specialties.
Overall, GNPC serves as a key vehicle for the Government of The Gambia to develop the nation's petroleum resources. With its upstream mandate, the corporation is positioned to enhance energy sustainability and revenue streams for the country through prudent management of oil and gas operations.