Ghana launched a licensing round on October 15. This is the first
open and competitive bidding round that the country has held, previously
choosing to hold direct negotiations with oil and gas firms for
acreage. Ghana is offering up three blocks in its offshore Central
Basin.
According to reports, the licensing round has already attracted
interest from major E&P firms, which have been conspicuously absent
in Ghana’s burgeoning oil and gas sector to date.
Initial indications from sources in the Ministry of Energy suggest
that BP, ExxonMobil, Total, Chevron Texaco, Rosneft, Sinopec and CNOCC
will all be participating in the bidding.
The tender process is specifically focused on expediting exploration
activity in the Central Basin. Ghana is calling on firms with the
financial capacity and technical competence, coupled with the timescale
for work program activity. Fiscal terms, including royalty payments to
the government and Ghana National Petroleum Corporation (GNPC) equity is
also an important issue in the tender process, as well as the equity
and skills transfer to local partners under the local content aspect.
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