Kofi Ahovi
Ghana National Petroleum Corporation (GNPC) has signed a petroleum agreement with three institutions for oil exploration in offshore Accra-Keta basin.
The institutions are the Australian firm, Tap Oil Limited, Challenger Minerals Incorporated and Afex Oil Ghana, an affiliate of Afex International based in the US.
Tap Oil Limited would control 36% stake in the joint venture, while the GNPC would control 10%, and both US firms involved in the deal would control 27% each.
During the exploration, the partners are expected to re-process 600 kilometres of 3D seismic data, acquire 850km of 2D seismic data and drill a single exploration well over the next two and a half years.
The exploration programme would cover an area of 2,000 square kilometres in deep and shallow water.
Deputy Minister of Energy, Armah Kofi Buah, said the government would ensure that companies operating in the oil and gas sector adhered fully to environmental laws governing the sector.
He added that the oil spillage off the Gulf of Mexico should provide a wake-up call to improve enforcement of the environmental laws.
Buah called on the development partners to support the country’s efforts to derive maximum benefits from the oil resources and urged them to adhere to the country’s laws.
Nana Boakye Asafu-Adjaye, Managing Director of GNPC, observed that the partners had both the technical and financial capability to undertake the project through to fruition.
Peter Stickland, CEO of Tap Oil Limited, expressed the partners’ commitment to ensure the success of the project.
He was very optimistic that they would find crude oil in commercial quantities.
Ghana National Petroleum Corporation (GNPC) has signed a petroleum agreement with three institutions for oil exploration in offshore Accra-Keta basin.
The institutions are the Australian firm, Tap Oil Limited, Challenger Minerals Incorporated and Afex Oil Ghana, an affiliate of Afex International based in the US.
Tap Oil Limited would control 36% stake in the joint venture, while the GNPC would control 10%, and both US firms involved in the deal would control 27% each.
During the exploration, the partners are expected to re-process 600 kilometres of 3D seismic data, acquire 850km of 2D seismic data and drill a single exploration well over the next two and a half years.
The exploration programme would cover an area of 2,000 square kilometres in deep and shallow water.
Deputy Minister of Energy, Armah Kofi Buah, said the government would ensure that companies operating in the oil and gas sector adhered fully to environmental laws governing the sector.
He added that the oil spillage off the Gulf of Mexico should provide a wake-up call to improve enforcement of the environmental laws.
Buah called on the development partners to support the country’s efforts to derive maximum benefits from the oil resources and urged them to adhere to the country’s laws.
Nana Boakye Asafu-Adjaye, Managing Director of GNPC, observed that the partners had both the technical and financial capability to undertake the project through to fruition.
Peter Stickland, CEO of Tap Oil Limited, expressed the partners’ commitment to ensure the success of the project.
He was very optimistic that they would find crude oil in commercial quantities.
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