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 spi...