The government of Ghana and US supermajor ExxonMobil are in talks
aimed at allowing the US firm to launch an exploration program off the
West African country’s coast.
In 2015 ExxonMobil and Ghana signed a
MoU to assess its Deepwater Cape Three Point region, where the water
depths range up to 13,000 ft.
The country’s deputy oil minister,
Mohamed Amin Adam, was quoted in a Reuters report as saying that the
government chose direct negotiation with the US firm over a competitive
tendering process due to the peculiar nature of the oilfield.
The
block was relinquished twice by Vanco Energy and Lukoil and that has
since increased its risk profile, according to the Ministry. A release
from the Ministry described the block as “one of the ultra-deep water
blocks, which severely tests the limits of modern technology and would
take research and development to optionally develop and exploit any
discovered resources.”
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