Napo to investors: Ghana’s oil blocks are ready to be explored
Matthew Opoku Prempeh, the energy minister is in London to put on show six available oil blocks for massive investment
Energy Minister Matthew Opoku Prempeh has asked investors in London to come to Ghana and take advantage of the numerous opportunities in the upstream petroleum industry.
Prempeh is in London to put on show six available oil blocks for massive investment. The blocks are the Deep Water Cape Three Points, Offshore Cape Three Points South, Shallow Water Cape Three Points and Southwest Saltpond .
It also include the Expanded Shallow Water Tano (ESWT) Block, and Offshore Cape Three Points South (OCTPS) Block.
At a strategic roadshow event at the Cavendish Conference Centre in London, Prempeh said Ghana has four sedimentary basins of significance to oil and gas namely, Western, Central, Eastern and the Voltaian.
He said the Western basin has Ghana’s three actively producing deepwater oil and gas fields, adding that the Voltaian basin is onshore and the remaining two are largely offshore. Most parts of the offshore basins are open for E&P activities.
“GNPC is currently exploring the Voltaian Basin to establish its prospectivity, following which the basin will be open to investors,” he said
Prempeh told investors that the Jubilee Field became Ghana’s first commercial deepwater discovery which further deepened the interest for deepwater exploration in Ghana.
“Having fast-tracked the development of the Jubilee Field, first commercial oil production commenced in December 2010, barely 40 months from discovery,” he said.
“Two new fields (Tweneboa-Enyenra-Ntomme (TEN) Field and Sankofa – Gye Nyame Field) have since been brought onstream for production in 2016 and 2017 respectively. The three producing (3) fields currently provide an average daily production of about 150,000 bbl/d from a peak production rate approximately 200,000 bbl/d.”
“Three of the six available blocks are available for farm-in opportunities. These are Expanded Shallow Water Tano (ESWT) currently operated by Base Energy Ghana Limited, Deep-Water Cape Three Points (DWCTP) originally operated by ExxonMobil, but now operated by Goil Upstream Limited.”
The third of these is the Offshore South-West Tano, operated by OSWT & EK Operating Company Limited” he added.
Prempeh led similar road shows in Houston and Aberdeen last year.
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