Tag: oil blocks
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Energy Ministry explains oil companies’ low interest oil blocks sale
The Energy Ministry has cited the lack of comprehensive data on Ghana’s oil blocks as well as the small size of the blocks as some of the reasons for the low interest in the first oil blocks bidding round. Out of the three blocks put up for the first bidding round, four companies expressed interest…
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Oil Exploration: Tullow fails to secure oil blocks in competitive bidding
Tullow Oil failed to make it to the next stage in the maiden licensing round for oil blocks in Ghana. The oil company was not shortlisted as part of companies whose bid qualified for the next process in the bidding rounds. The development comes on the back of a statement issued by the Ministry of…
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Exxonmobil, BP withdraw bids for new oil blocks
US oil giant, ExxonMobil and British Petroleum (BP) have pulled out from bidding for oil blocks in West African country, Ghana, in the ongoing Licensing Bid Round. The two International Oil Companies (IOCs) had earlier submitted applications for direct negotiations for block 5&6, but pulled out at the latter stage of the bid round. The…
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Energy Ministry closes submission of bids for new oil blocks
The deadline for the submission of bids for the exploration oil blocks put on offer by the government in October last year elapsed at 12 noon today, May 21, 2019. The Ministry of Energy is expected to begin the opening of the bids at 5 pm. The bid process, which was ushered in by President…
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Energy Ministry opens prequalification application for oil blocks
The Ministry of Energy has opened applications for prequalification from interested companies for the oil blocks the government has put up for competitive bidding. The application is opened to who submitted Expression of Interest (EoI) for the competitive bidding for three Blocks (GH_WB_02, GH_WB_03 and GH_WB_04) in the Western Basin and direct negotiations in respect…
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Gov’t attracts locals with competitive allocation of oil blocks
The government is anticipating active local participation in oil exploration henceforth. This follows the launch of the country’s first licensing rounds bids evaluation for oil blocks. The exercise is to allow interested investors to own and operate six of the nine available oil blocks. The six oil blocks available for exploration are all located within…
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Cancel non functional oil blocks – ACEP to government
The Africa Center for Energy Policy (ACEP) has called for a review of contracts that are given to companies that are mandated to drill oil in the country. According to the Executive Director of ACEP, Benjamin Boakye, such a move is necessary as most companies that have signed contracts with Ghana after its oil discovery…