Ghana approves state oil firm as partner for Exxon in deepwater field

Ghana has approved state-owned company GOIL as minority local partner for Exxon Mobil’s deepwater offshore oilfield, Energy Minister Peter Amewu said on Wednesday.

The West African nation is receiving “huge interest” from international and local oil companies after the government launched its first bidding rounds for offshore blocks last month, Amewu told reporters.

Exxon Mobil signed a deal with Ghana in January for exploration at the oilfield after direct negotiations without an open tender because of the nature of the field, where the depth ranges from 2,000 to 4,000 meters, the government said.

The U.S. oil major is lead operator with 80 percent interest in the field, while state-run Ghana National Petroleum Corporation holds 15 percent. The deal required a local partner to own the remaining 5 percent.

Source: Reuters

 

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