Petroleum Africa
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Sunday, January 21, 2018
ExxonMobil signed an agreement with the government of Ghana to explore for oil offshore the West African country. The agreement covers the Deepwater Cape Three Point (DWCTP) offshore oilfield.
The deal was signed following direct negotiations between the US supermajor and the government without an open competitive tender.
ExxonMobil will hold an 80% stake in the DWCTP, while state-run GNPC holds 15%. Regulations in Ghana require the operator to select a local partner to hold the remaining 5% stake.
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