Africa Oil & Gas: Ghana to launch first exploration licensing round in Q4 2018

Ghana will launch its first exploration licensing round in the last quarter of this year offering about six offshore blocks, deputy energy minister Mohamed Amin Adam said.

Ghana currently produces 200,000 barrels of oil per day (bpd), led by its flagship Jubilee field which produces about 100,000 bpd, he said.

The west African nation, which became a significant oil producer in 2010 when it began pumping from the offshore Jubilee field, is keen to unlock its vast oil and gas resources.

Adam said global oil majors like BP, Shell and some independent producers have shown interest in acquiring a stake in oil assets in Ghana.

‘We have asked them to wait for our first bidding round which is scheduled for the last quarter of this year,’ Adam told Reuters in New Delhi. He said Ghana would put up another six offshore blocks for auction next year.Source: Reuters