Ghana to Award Nine New Oil Blocks off the West Coast

Africa Outlook - - News -

Ghana is set to award nine new up­stream oil blocks for com­mer­cial ex­plo­ration off its west­ern coast be­gin­ning this year, the en­ergy min­istry said.

The West African coun­try plans to award six of the nine blocks this year while the re­main­ing three will be given out next year through a mix of open com­pet­i­tive ten­der and direct ne­go­ti­a­tions, the min­istry said in a state­ment.

It said state oil Com­pany Ghana Na­tional Petroleum Cor­po­ra­tion will ac­quire one of the blocks to ex­plore in part­ner­ship with a strate­gic part­ner to de­velop its tech­ni­cal ca­pac­ity and be­come an op­er­a­tor.

Ghana, which be­gan com­mer­cial crude pro­duc­tion in late 2010, cur­rently pro­duces around 180,000 bar­rels per day mainly from three fields off­shore the west­ern coast, in­clud­ing its flag­ship Ju­bilee re­serves op­er­ated by UK’s Tul­low Oil Plc.

The Govern­ment named a 23-mem­ber com­mit­tee to over­see the al­lo­ca­tion of oil blocks to lo­cal and in­ter­na­tional com­pa­nies through eval­u­a­tion and ne­go­ti­a­tion.

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