Ghana has attracted 16 oil companies to bid for one or more of five offshore blocks in the country’s first formal licensing round, including ExxonMobil, BP, Total, Equinor, Eni and CNOOC Ltd, writes Barry Morgan.

Also bidding are Tullow Oil, Cairn Energy, Harmony Oil & Gas Corporation, Qatar Petroleum, Swiss trader Vitol, Global Petroleum, Aker Energy, Kosmos Energy, Nigeria-focused independent First E&P and South Africa's Sasol, according to the Energy Ministry.

These include expressions of interest directed at blocks WB-02, 3 and 4 offered under competitive tender, for which some 58 companies qualified to bid, and requests for direct negotiations regarding blocks WB-5 and 6 that were also included in the round.

It was earlier understood that a sixth block, WB-01, in the Tano shallows, has been allocated to the operating arm of the Ghana National Petroleum Corporation (GNPC) but that did not prevent two applications directed at acquiring this acreage, both of which were invalidated.

GNPC ExplorCo will shortly be seeking a strategic partner to assist the state player in acquiring operating expertise.

“Τhe high level of interest shown by majors represents a vote of confidence in the Ghanaian economy,” said Deputy Minister for Energy (Petroleum) Mohammed Amin Adam.

“The government will operate a transparent process to shortlist companies that have the capacity and can qualify based on prescribed criteria. We will collaborate with them to exploit the resource for our mutual benefit,” said Licensing Committee chair Lawrence Apaalse.

With the prequalification phase completed, the Petroleum Commission confirmed the deadline for submission will be 21 May this year, with successful bidders to be announced on 2 July.

Negotiations will take place through 30 August with 8 November scheduled for final awards.

Weekly

Ghana bid round interest