Explorco reports stronger 2025 finances ahead of Voltaian Basin drilling campaign

GNPC Exploration and Production Limited (Explorco) said its financial position improved in 2025 as it readied an onshore drilling campaign in Ghana’s Voltaian Basin slated for the fourth quarter of 2026.

The company disclosed the update at its first Annual General Meeting on Tuesday, 27 October 2026, held at the Accra Marriott Hotel. Managing Director Samuel Opoku Arthur said the 2025 results showed growth in revenue and profitability, stronger cash generation and a significant reduction in overall borrowings, providing a stronger financial foundation for future investments.

Operational outlook

Arthur outlined progress across the Jubilee and Tweneboa, Enyenra and Ntomme (TEN) fields and said the firm was finalising preparations to ensure readiness for the Voltaian Basin drilling campaign.

Board Chairman Dr Aaron Issa Anafure noted that the company’s transition to direct operatorship would require strong technical expertise, disciplined project management, sound procurement practices and effective risk management. He added that safety, accountability and stakeholder trust were critical to building a credible Ghanaian operator and that the Voltaian Basin project offered an opportunity to strengthen national capacity and develop expertise for the upstream petroleum industry.

Deputy Minister for Energy and Green Transition Richard Gyan‑Mensah said the government expected Explorco to meet its commitments, including commencing the onshore drilling as scheduled, and urged the company’s leadership to maintain due process and rigorous due diligence throughout the project.

The AGM gathered board members, executives of the parent Ghana National Petroleum Corporation, government officials and industry stakeholders, including GNPC CEO Kwame Ntow Amoah, representatives of the Ministry of Energy and Green Transition, GNPC subsidiaries and external auditors Deloitte Ghana.

Explorco reaffirmed its commitment to improving operational efficiency, strengthening local‑content participation and maintaining high safety standards as it works toward becoming a fully capable and financially disciplined operator.

Authorities indicated that the Voltaian Basin campaign remains on track for a fourth‑quarter 2026 start, with the company continuing to manage outstanding financial obligations and receivables.