Ghana in talks with Shell over oil ex­plo­ration

Daily Trust - - REUTERS -

Ghana Na­tional Petroleum Cor­po­ra­tion (GNPC) is in talks with Royal Dutch Shell over an ex­plo­ration and pro­duc­tion deal in the off­shore East Keta basin, GNPC’s chief ex­ec­u­tive said at the Reuters Africa sum­mit.

Alex Mould gave no de­tails of the deal’s scope in the basin, which lies in the Gulf of Guinea be­tween the port city of Tema and the To­golese bor­der to the east.

But he said a Shell deal could open the door to other ma­jor pro­duc­ers.

“We are in dis­cus­sions right now with Shell in the East Keta basin. We are also in dis­cus­sions with Chevron. They are look­ing at where they want to come in the data room and we should hear from them in a cou­ple of months,” Mould told Reuters.

“We still have to make con­tacts with ExxonMo­bil and we be­lieve that with the ad­vent of Shell, who are in dis­cus­sions with us right now for a petroleum agree­ment, will en­cour­age the rest of them to come in,” he said.

Ghana be­gan pump­ing oil in De­cem­ber 2010 at its off­shore Ju­bilee field to the west, where Tul­low Oil has the largest stake and pro­duc­tion is ex­pected to hit 110,000 bar­rels per day in 2014. [ID:nL6N0N01ZJ]

Ju­bilee, the only oil field in Ghana cur­rently pro­duc­ing, lies south­west of the port city of Tako­radi and close to the bor­der with Ivory Coast.

GNPC is also in talks with UB Petroleum, A-Z Petroleum and Her­itage Oil over the award of li­cences on new oil blocks, Mould said, though he de­clined to give de­tails of the block lo­ca­tions or the value of any deals.

“There is ab­so­lutely a huge de­mand in the Ghana­ian up­stream sec­tor. The last four blocks we gave we had over 25 ap­pli­ca­tions and on the aver­age we have about six ap­pli­ca­tions for ev­ery block,” Mould said.

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