ENI & Vitol, First E&P win oil blocks …set to start negotiation for oil exploration

The Ministry of Energy has announced winners for oil blocks GH_WB_02 and GH_WB_03 located in the Deepwater Cape Three Points in the Western Basin.

First Exploration and Petroleum Development Company, in partnership with Elandel Energy (Ghana), won block GH_WB_02 while ENI Ghana Exploration and Production Limited, in partnership with Vitol Upstream Tano Limited, emerged winner of block GH_WB_03.

A statement issued and signed by Nana Kofi Damoah, Head of Communications and Public Affairs Unit of the Ministry in Accra on Tuesday, said the government had  invited the winners for negotiations on the detailed terms of the Petroleum Agreement pursuant to Regulation 18 of the General Petroleum Regulations 2018 LI 2359 for the two blocks.

The government, through the Energy Ministry, in October 2018, earmarked six oil blocks for exploration and production.

Sixteen oil and gas firms were initially selected early this year to the final stage of the Oil Licensing Round.

Three of the oil blocks-two, three and four were to go through competitive bidding process, while two blocks-five and six were supposed to begin direct negotiations.

Block One was reserved for the Ghana National Petroleum Corporation (GNPC).

The bidding round attracted multinational oil companies such as US oil and gas giant ExxonMobil, British Petroleum, China National Offshore Oil Corporation, Qatar Petroleum and Aker Energy.

The rest are Cairn Energy, Global Petroleum Group, First E&P, Sasol, Equinor and Harmony Oil and Gas Corporation, Tullow Ghana Limited, Total, ENI Ghana, Vitol and Kosmos Energy.

However, most of the major oil firms pulled out of the bidding process at the eleventh hour.

ENI and Vitol, as well as Tullow Ghana Limited, were the only companies that submitted bids for block three, with First E&P submitting bid for block two.

By Times Reporter

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