The Ghana National Petroleum Corporation (GNPC) has submitted its annual program of
expenditures to the Parliament of Ghana for approval. This is a legal requirement of the state
Corporation to receive expenditure clearance and account for public investment through its
activities. This paper analyses the expenditure priorities of the Corporation in 2018, as well
as proposed expenditure in 2019, through the lens of value for money and corporate
accountability in accordance with the Petroleum Revenue Management Act (PRMA), 2011
(Act 815) as amended. The PRMA has restricted allocations to the Corporation from the
proceeds of Carried and Participating Interest (CAPI) of producing fields to ensure that some
revenue would still be available for supporting the national budget while the Corporation
focuses on its core mandate to support the development of the oil industry. Between 2011
and September 2018, a total of $716.4 million has been given to the Corporation as its share
of net CAPI to finance its core operations and development of its competence as a commercial
player in the industry. This paper does not cover detailed analysis of the Corporation’s
expenditure over the period.

This analysis is presented as a guide to Parliament for its scrutiny of GNPC’s summary
expenditures of 2018, and the work program for 2019 as presented by the Corporation. To
that extent, the table below represents a comparison of the broad expenditure areasfor both
years.

Read the full analysis by ACEP below