2 Oil Blocks Taken: Negotiations Set to Begin

Source Press Release
Company FIRST Exploration & Petroleum Development Company LimitedElandel Energy (Ghana) LimitedENIVitol 
Tags Licensing Rounds, Deals, Upstream Activities
Date July 04, 2019

Two international oil exploration companies have been declared winners two oil blocks of the first licensing round of oil exploration.

First Exploration and Petroleum Development Company, in partnership with Elandel Energy (Ghana) Limited as local partner, won the bid for block GH_WB_02.

Similarly, Eni Ghana Exploration and Production Limited, in partnership with  Vitol Upstream Tano Limited, emerged winner of block GH_WB_03.

A statement issued by Nana Oppong Damoah, Head of Communication and Public Relations of Ministry of Energy, said government has, therefore, invited the companies for negotiations on the terms of the petroleum agreement pursuant to Regulation 18 of the General Petroleum Regulations, 2018 L.I 2359.

The government, through the Energy Ministry, earmarked six oil blocks for exploration.

Three of the blocks – 2, 3 and 4 – were to go through competitive bidding process.

On the other hand, two blocks – 5 and 6 – were supposed to be for direct negotiations.

One of the blocks was reserved for Ghana National Petroleum Corporation (GNPC).

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd