U.K ANGOLA GHANA
NEWS
May 2, 2018
Gov’t To Dishes Out Oil Blocks
Potential investors in oil and gas in Ghana’s bourgeoning petroleum industry can now heave a sigh of relief as government plans to lift the moratorium on allocation of oil blocks.

Energy Minister Boakye Agyarko has announced that plans are far advanced to open up the space for more investors to explore oil and gas in Ghanaian territories.

“Ladies and gentlemen, I would like at this point to announce that at the end of this year, our government will undertake the first bidding round for the allocation of new acreages in line with our strategy of pursuing an aggressive exploration drive. This will ensure that we increase the potential for replacing our declining reserves, create opportunities for local and international investors and for improving on the well-being of our people,” Mr Agyarko said on Monday in Houston, Texas, the United States of America, at the annual Offshore Technology Conference (OTC).

The minister, who led Ghana’s team to the OTC, was opening a pavilion allocated for the country. It was Ghana’s first pavilion in its 10 years of participating in the OTC, which brings major industry players across the globe together to share knowledge and technology for an industry that is the livewire of major economies.

He extended invitations to Ghana’s partners in the oil and gas industry as well as other investors to participate and take “advantage of our highly de-risked environment for our mutual benefit.”

Ghana halted the allocation of oil blocks following the dispute over its maritime boundary with La Côte d’Ivoire, with that French-speaking neighbour laying claim to part of Ghana's oil-rich territorial waters. This led to the matter being settled at the International Tribunal for the Law of the Sea (ITLOS) in Germany last year September.
Source: Modern Ghana

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