Sectors & markets

Invitation For Direct Negotiations For Petroleum Exploration And Production License, Offshore

1st Oil and Gas Licensing Round - Ministry of Energy

Introduction

Pursuant to Section (10) Subsection (9) of the Petroleum (Exploration and Production) Act 2016, Act 919 and in accordance with the principles of good governance, transparency and accountability, the Minister of Energy, by this public notice, hereby invites Oil and Gas companies, with relevant experience in ulta-deep water exploration and production, with emerging subsea technology, for direct negotiations without public tender in respect to Blocks GH_WB_05 and GH_WB -06, offshore the Republic of Ghana. 

Block GH_WB_05 is covered with limited 20 and 3D seismic data and has water depth ranging from 1800 to 4500 metres. The discovery of Dzata-l well in the Cenomanian and Albian established a working petroleum system within the area and there is a likelihood that another petroleum system can be established in deeper horizons. 

Block GH_WB_06 lies in ultra-deep water with depth ranging from 3,500 to 4,500 metres. It has limited 2D seismic data coverage and no exploration well has ever been drilled in this area. The blocks are found in the area relinquished by Vonco and LukeOil.

These blocks will be awarded to companies that have a track record of delivering projects on time and within budget.

Policy Objectives

The Licensing Round is to enable the Government of Ghana to accelerate upstream activities so as to increase reserve and production of petroleum resources. 

The objective of the 1st Oil and Gas Licensing Round, pursuant to Regulation 16 (2a) of the Petroleum (Exploration and Production) (General) Regulation, L.I 2359, s for the Government of Ghana to have significant participation interest as defined in the evaluation criteria.  

Why Direct Negotiation?

1.    The water depths of blocks GH__WB_05 and GH_WB_06 severely test the limits of modern technology and would take research and development to optimally develop and exploit discovered resources. 

2.    The setting in ultra-deepwater results in high drilling cost, therefore, increased emphasis on full regional technical understanding and experience in exploration in similar geological plays prior to drilling is essential. 

3.    Critical success factors in any petroleum basin such as Ghana's is the attraction and retention of International Oil Companies (IOCs) with the relevant technical expertise and sound financial capability with access to both capital and project finance. 

The aforementioned reasons have necessitated the Ministry to target companies with such expertise in for the award of explorations licences for the two blocks GH_WB__OS and GH_WB_06 through direct negotiations. 

Mode of Application

Interested companies, pursuant to Regulation 19(8), shall apply using form 2 as contained in the first schedule of the Petroleum (Exploration and Production) (General) Regulations, 2018.

Articles sur le même thème

Fair & Exhibition

Ghana-EU Buisness Forum

The European Union and the Government of Ghana are organising a Forum “Boosting Investments for Sustainable Jobs in Ghana.”

Evénements sur le même thème

Share this page Share on FacebookShare on TwitterShare on Linkedin

Close

Are you starting to export ?