Ghanaian Parliament Ratifies South Deepwater Tano Deal

The Parliament of the Republic of Ghana has ratified a petroleum agreement between the country's government and a consortium of exploration companies to explore and operate the South Deepwater Tano Block, offshore Ghana, Minexco Petroleum reported Monday.

The ratification of the agreement means the consortium – which consists of Ghana National Petroleum Corporation, GNPC Exploration and Production Company Limited and AGM Petroleum Ghana Limited – now has the exclusive right to carry out all petroleum exploration, development and production activities within the block.

The 1,340-square mile South Deepwater Tano Block is located in the deep to ultra-deep water part of the Tano basin in water depth ranging from 6,560 feet to 11,480 feet. It is in close proximity to the Hess-operated Deepwater Tano/Cape Three Points block, where seven discoveries have been made, and the Vanco/Lukoil-held Deepwater Cape Three Points block, which contains a discovery, 

AGM Petroleum Ghana Limited is a jointly owned by Minexco, AGR Energy AS and MED 
Songhai Developers Limited.

AGM Petroleum Chairman Sverre Skogen commented in a company statement:

"The approval of the South Deepwater Tano Block Petroleum Agreement by the Parliament of Ghana marks a major milestone for AGM Petroleum and its partners.  We look forward to working closely with GNPC to realize the potential of the block.

"The SDWT block represents an important opportunity for the people of Ghana and Corporate Social Responsibility will underpin the way we conduct our business. We are committed to partnering with our communities to improve their quality of life. We now look forward to bringing our collective experience in deep water exploration and moving forward with a plan to fulfill the agreed work program."

In a separate statement, Minexco Acting Chief Executive Dr Martin Keeley added:

“We are very appreciative of the endorsement AGM Petroleum has received from the President of the Republic of Ghana, John Dramani Mahama, his Cabinet and now from the Members of Parliament, to explore and operate the SDWT block. We look forward to building upon our relationship."



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)
 -  Proserv Secures Series of Services Dea... (May 23)
 -  BP Urges Engineers to Apply for Trinid... (May 23)
 -  CGG to Support Oman Industry Workers t... (May 23)
 -  Wood Group Engineers to Carry Out Sakh... (May 22)


Most Popular Articles

From the Career Center
Jobs that may interest you
Chloride Sales Manager
Expertise: Business Development|Customer Service|Sales
Location: The Woodlands, TX
 
Rigs Contract Specialist
Expertise: Contracts Administration
Location: Houston, TX
 
Regulatory Site Advisor
Expertise: Regulatory Compliance
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $53.87/BBL 0.48%
Light Crude Oil : $50.73/BBL 0.79%
Natural Gas : $3.33/MMBtu 2.14%
Updated in last 24 hours