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Energy Minister promotes Ghana’s offshore oil blocks in Houston

Energy Minister, Dr. Matthew Opoku Prempeh

Energy Minister, Dr. Matthew Opoku Prempeh

Energy Minister, Dr Matthew Opoku Prempeh is in Houston, Texas, United States of America together with senior officials of the Petroleum Commission, Ghana National Petroleum Corporation(GNPC) and GOIL on an oil and gas roadshow.

The delegation which also includes officials from Base Energy is seeking to promote five available oil blocks offshore Ghana.

These are Deep-Water Cape Three Points Block, Offshore Cape Three Points South Block and Shallow Water Cape Three Points Block.

It also includes the Southwest Saltpond Block as well as the Expanded Shallow Water Tano (ESWT) Block.

At a strategic roadshow event which was planned to coincide with the maiden Africa-Houston Energy Summit on Wednesday, 21 September 2022, Dr Prempeh said Ghana has four Sedimentary basins of significance to oil and gas namely; Western, Central, Eastern and the Voltarian.

Opoku Prempeh said the Western basin has Ghana’s three actively producing deepwater oil and gas fields.
Dr Prempeh added that the Voltarian 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 Voltarian Basin to establish its prospectivity, following which the basin will be open to investors,” he said.

The minister who is also a Member of Parliament for Manhyia South told investors that the Jubilee Field became Ghana’s first commercial deepwater discovery which further deepened the interest in 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 added.

He continued, “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 fields currently provide an average daily production of about 150,000 bbl/d from a peak production rate of approximately 200,000 bbl/d.”

He further stated that Ghana’s stable political and business climate, its highly prospective sedimentary basin with commensurate high exploration success rate, its guaranteed and attractive fiscal terms and the well-defined legal and regulatory framework makes the country the best place for investors.

Opoku Prempeh also highlighted the availability of an existing architecture to support infrastructure-led exploration, which shortens the time between exploration and production. He thus urged investors to find in Ghana a friend and partner.

The minister will on Thursday ( 22 September) participate in a roundtable discussion together with colleague Ministers at the Africa-Houston Energy Summit and it is expected that he will be heavy on the investment opportunities in Ghana’s upstream petroleum space

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