Large oil fields have been found in Ghana in recent years. The Jubilee Field has proven reserves of 1.5-1.8BB0 and is producing around 125,000 barrels per day.. Following the recent discovery of a further nine oil fields in the Western Region, interest in Ghana’s oil is set to increase substantially among contractor companies, as commercial terms in the country are currently very favourable.
Our Strategy in Ghana
Minexco has demonstrated the success of its partnership strategy model with Ghana National Petroleum Corporation (GNPC) where AGM Petroleum, a subsidiary of Minexco Petroleum, was selected through a competitive and transparent bid process to become the preferred partner. In December 2013, AGM Petroleum and GNPC received ratification to carry out all petroleum exploration, development and production activities in the South Deepwater Tano Block.
Minexco Petroleum holds the license to explore the South Deep Water Tano prospect offshore Ghana, which is part of the prolific Tano Basin boasting several discoveries including the >2BBOE Jubilee field and 7 consecutive discoveries made from just 7 drilled wells by Hess Corporation, a 100% success rate.
The SDWT already has high quality 3D seismic data over 80% of the block area. Estimated prospective resources are >4 BBOE.
The SDWT prospect is jointly owned with the Ghana National Petroleum Corporation (GNPC). Forming a joint venture to develop GNPC’s offshore exploration expertise was at the core of Minexco’s proposals to develop the SDWT block and AGM Petroleum, a subsidiary of Minexco Petroleum, was selected in 2013 through a competitive and transparent bid process to become the preferred partner.
Final Ghanaian Parliament ratification was awarded on 04 December 2013 with the Petroleum Agreement award effective 24 January 2014.