The Chief Executive Officer of Ghana’s indigenous oil marketing company, GOIL PLC, Edward Abambire Bawa, has held a strategic meeting with top officials of Planet One, the company’s joint venture partner for the Deepwater Cape Three Points (DWCTP) project offshore Ghana.
According to Mr. Bawa, the engagement focused on ensuring full readiness ahead of the exploratory drilling campaign scheduled for next year. Discussions centred on operational preparedness, project financing, local content participation, and strict adherence to regulatory and environmental standards.
“For GOIL, the DWCTP project represents more than exploration; it embodies our determination to build local technical capacity, enhance national energy security, and position Ghanaian enterprise at the core of upstream value creation,” Mr. Bawa emphasised.
He reaffirmed GOIL’s commitment to collaborating with all stakeholders to ensure the project’s success.
“We remain committed to working closely with all stakeholders — including the Petroleum Commission, GNPC, and our host communities — to ensure that this venture contributes meaningfully to Ghana’s energy future,” he added.
GOIL selected Dubai-based Planet One Group as its joint venture partner after American oil and gas supermajor ExxonMobil relinquished the offshore exploratory block in 2021.
Before ExxonMobil’s exit, the U.S. firm held an 80% interest, while GNPC owned 15% and GOIL Upstream the remaining 5% stake.
However, after ExxonMobil’s withdrawal, GOIL Upstream Ghana was assigned the 80% participation interest previously held by Exxon and directed to secure a farm-in partner.
The U.S. oil supermajor had invested close to US$50 million in the block, including acquiring seismic data, before abandoning it.
In 2023, GOIL Upstream signed Farm-in and Joint Operating Agreements with Planet One Group, signalling their commitment to advancing the project.
Source: https://energynewsafrica.com
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