Clontarf, Petrel consider expanding acreage offshore Ghana

Offshore staff

DUBLIN, Ireland – The Ghanaian Ministry of Petroleum has told Clontarf Energy plc and its partners that it is available to negotiate their proposals for amended coordinates of the Tano basin block offshore Ghana.

The company said that the ministry has reviewed the partners’ proposal and has informed that the Lukoil B block is available for negotiations. The new acreage is located in deeper water than the Tano 2A block, and Clontarf said it “has been the subject of ongoing discussions for many years.” 

The Tano 2A block was originally applied for in 2008. A revised petroleum agreement was signed between the parties and the Ghana National Petroleum Co. in March 2010.

“We will confirm our interest and follow up on this prospective acreage. Further announcements will be made as soon as practicable,” Clontarf and partner Petrel noted in separate statements.  

In February 2015, Bloomberg reported that Lukoil planned to relinquish the its deepwater Cape Three Points discovery, originally announced in September 2014, because it felt that geology in the area was not conducive to commercially viable recovery rates.

Clontarf’s Ghanaian affiliated company, Pan Andean Resources (Ghana) Ltd., is a private company held by Clontarf (60%), Petrel Resources plc (30%), and local Ghanaian interests (10%).

06/23/2016

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