…as the search still continues
By Ebenezer SABUTEY
More oil firms including Afren Energy Plc, ENI Oil &Gas, among others have showed interest in partnering with the nation’s oil exploration dealer, Ghana National Petroleum Cooperation, GNPC in the search for crude oil in commercial quantities at the Voltaic Basin, Keta block offshore and some parts of the Coast along the Gulf of Guinea.
Information gathered indicates that, so far prospectors are having positive results of reaching the “Black gold” in a year to come, making Ghana one of the major oil producing countries including Nigeria and Venezuela among others in the world.
The UK based oil explorer, Afren Energy which is leading in the search according to sources close to the field revealed that, it started some years back with its obligatory exploration well, following the exit of Devon Energy which was basically contracted by the GNPC to partner in the search.
GNPC renegotiate its petroleum agreement terms with the oil explorer, following the exit of its competitor, Devon Energy and resulted positively in the process after the basin has been de-risked with the discovery of the Jubilee field in the West Cape Three Point, WCTP offshore western region.
The acquisition of the Keta block which is located offshore Eastern Ghana, positioned at the heart of the Volta River Basin field covers an area of 5,500km2, in water depths ranging from 1,000meters to 2,800metres.
The block also offers multiple prospects and leads, with a variety of trapping and depositional settings of which a number shows potential for significant straight-graphic trapping and giant field potential.
Afren energy in December 2008 drilled to a depth of 12,425 feet but suspended it after encountering excessive high pressure, which posed a great danger to life and property for the people in the area, hindering the company to reach the target depth of 15,832 feet.
Oil major, ENI oil and gas limited, an oil and gas exploration entity in March last year agreed to farm into a 35% participating interest in the block.
The farm down is subjected to customary government and partner approvals, following such approvals, Afren energy will retain a 35% participating interest and transfer operatorship to ENI.
In consideration for the assignment of the farm out interest, ENI has agreed to carry Afren’s share of costs associated with drilling one exploration well during the current exploration period.
Afren Energy will also receive non drilling back costs and carry through a3D seismic acquisition programme that forms part of the obligation for the next licensed phase.
ENI is an experienced deep water operator with an established presence in Ghana, where it is already actively engaged in exploration activities at the Jubilee field.
According to a source at the Ministry of Energy, the prospected oil field shares a common maritime boundary with Togo on in the East.
The source also said besides, the Keta Basin, some other companies are also prospecting in some parts of the Coast along Accra and Saltpond in the Central region as well.
“Some of these entities have merged with each other and others are also doing a single partnership in the prospecting process” the source stated.
By Ebenezer SABUTEY
More oil firms including Afren Energy Plc, ENI Oil &Gas, among others have showed interest in partnering with the nation’s oil exploration dealer, Ghana National Petroleum Cooperation, GNPC in the search for crude oil in commercial quantities at the Voltaic Basin, Keta block offshore and some parts of the Coast along the Gulf of Guinea.
Information gathered indicates that, so far prospectors are having positive results of reaching the “Black gold” in a year to come, making Ghana one of the major oil producing countries including Nigeria and Venezuela among others in the world.
The UK based oil explorer, Afren Energy which is leading in the search according to sources close to the field revealed that, it started some years back with its obligatory exploration well, following the exit of Devon Energy which was basically contracted by the GNPC to partner in the search.
GNPC renegotiate its petroleum agreement terms with the oil explorer, following the exit of its competitor, Devon Energy and resulted positively in the process after the basin has been de-risked with the discovery of the Jubilee field in the West Cape Three Point, WCTP offshore western region.
The acquisition of the Keta block which is located offshore Eastern Ghana, positioned at the heart of the Volta River Basin field covers an area of 5,500km2, in water depths ranging from 1,000meters to 2,800metres.
The block also offers multiple prospects and leads, with a variety of trapping and depositional settings of which a number shows potential for significant straight-graphic trapping and giant field potential.
Afren energy in December 2008 drilled to a depth of 12,425 feet but suspended it after encountering excessive high pressure, which posed a great danger to life and property for the people in the area, hindering the company to reach the target depth of 15,832 feet.
Oil major, ENI oil and gas limited, an oil and gas exploration entity in March last year agreed to farm into a 35% participating interest in the block.
The farm down is subjected to customary government and partner approvals, following such approvals, Afren energy will retain a 35% participating interest and transfer operatorship to ENI.
In consideration for the assignment of the farm out interest, ENI has agreed to carry Afren’s share of costs associated with drilling one exploration well during the current exploration period.
Afren Energy will also receive non drilling back costs and carry through a3D seismic acquisition programme that forms part of the obligation for the next licensed phase.
ENI is an experienced deep water operator with an established presence in Ghana, where it is already actively engaged in exploration activities at the Jubilee field.
According to a source at the Ministry of Energy, the prospected oil field shares a common maritime boundary with Togo on in the East.
The source also said besides, the Keta Basin, some other companies are also prospecting in some parts of the Coast along Accra and Saltpond in the Central region as well.
“Some of these entities have merged with each other and others are also doing a single partnership in the prospecting process” the source stated.
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