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Ghana pleased with first oil exploration licensing round

Published 12/26/2018, 12:49 PM
© Reuters.  Ghana pleased with first oil exploration licensing round
  • Ghana's energy ministry says 16 oil and gas companies have submitted applications for one or more of five offshore blocks in the country's first exploration licensing round.
  • The companies include BP, Cnooc (NYSE:CEO), Eni (NYSE:E), Equinor (NYSE:EQNR), Exxon Mobil (NYSE:XOM), Kosmos Energy (NYSE:KOS), Sasol (NYSE:SSL) and Total (NYSE:TOT).
  • The energy ministry says the applications include expressions of interest in competitive bidding for three blocks in the Western Basin and for direct negotiations regarding another two blocks offshore Ghana.
  • Ghana sees the interest is seen as a major vote of confidence in the country, which seeks to unlock more resources than current production of 200K bbl/day of oil including the Jubilee Field's 100K bbl/day.
  • Now read: Equinor: An Undervalued Cash Flow Machine


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