ExxonMobil Abandons Ghana Almost Three Years Of Exploration

US oil and gas super major, ExxonMobil, has abandoned its exploration activity in the Republic of Ghana, energynewsafrica.com can report.

ExxonMobil controlled 80 percent of the Deepwater Cape Three Point block (DWCTP block) in the West African nation’s oilfield in the Western Region, with the country’s national oil company, Ghana National Petroleum Corporation holding 15 percent and GOIL Offshore Ghana Ltd having the remaining five percent.

ExxonMobil entered into petroleum agreement with the Government of Ghana in November 2018.

The US supermajor’s decision is contained in a letter dated 18th May, 2021, and addressed to Ghana’s Minister for Energy, Dr. Matthew Opoku Prempeh.

Sources at the Ministry of Energy indicated that Madam Randi Cruz, Managing Director of ExxonMobil Exploration & Production Ghana (Deepwater), delivered the letter.

Some reports suggest that ExxonMobil was under pressure from shareholder groups pushing for the company to shift to cleaner fuels hence its decision to abandon its Ghana ambition though information available to energynewsafrica.com points to the contrary.

Energynewsafrica.com understands ExxonMobil would issue a press release in June about its decision to exit Ghana.

The question is: Was ExxonMobil frustrated by government officials, hence, its decision to exit Ghana?

Energynewsafrica.com would inform readers in our subsequent reportage.

Source:www.energynewsafrica.com