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Ghana’s energy ministry announces winners of oil blocks bid

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Ghana’s energy ministry has announced the winners for two oil blocks after evaluating the bids in Ghana’s first licensing rounds. The two oil blocks include GHWB 02 and GHWB 03.

My Joy Online reported that the ministry explained that “First Exploration and Petroleum Development Company Limited in partnership with Elandel Energy (Ghana) Limited emerged winners of block GH WB 02 while Eni Ghana Exploration and Production Limited in partnership with Vitol Upstream Tano Limited emerged winners of block GHWB 03.”

It also stated that the government of Ghana has invited them for negotiation on the detailed terms of the Petroleum Agreement pursuant to Regulation 18 of the General Petroleum Regulations, 2018 LI 2359 for blocks GHWB 02 and GHWB 03 respectively.

In addition, it further mentioned that a total of 60 applications were initially received, but two were invalidated as they were for a block reserved for Ghana National Petroleum Corporation. Apparently, the country currently produces 200,000 barrels of oil per day (bpd), with the Jubilee field producing about 100,000 bpd.

Meanwhile, ExxonMobil and British Petroleum (BP) earlier pulled out from the bidding process as they had earlier submitted applications for direct negotiations for block 5&6. However, it is not clear yet why the two multinational companies decided to pull out at the last minute.

Source My Joy Online
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