Local involvement a feature in latest deepwater Ghana block award

Offshore staff

ACCRA, Ghana – Ghana’s Parliament has ratified a petroleum agreement for the South Deepwater Tano block (SDWT).

The 3,482-sq km (1,344-sq mi) concession is in water depths of 2,000-3,500 m (6,562-11,483 ft) in the Tano basin. It is adjacent to the Deepwater Tano/Cape Three Points block, where operator Hess has scored seven discoveries, and the Vanco/Lukoil Deepwater Cape Three Points block, which has one discovery.

The partners are Ghana National Petroleum Corp. (GNPC), GNPC Exploration and Production Co. Ltd. (Explorco), and AGM Petroleum Ghana.

This agreement gives Ghana and GNPC a stronger position in exploration and production than in previous oil and gas agreements. Consequently, the country will gain a larger share of resources in the event of a discovery.

12/05/2013

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...