Ghana to allocate nine oil blocks

The Ghanaian government has mapped nine oil blocks in the Western Region to contract to companies by the end of Q3, Minister of Energy Boakye Agyarko said Thursday.

Three of the blocks will be auctioned in an open competitive tender, and two are to be allocated through a restricted tender. Ghana National Petroleum Corporation will take over four of the blocks.

“We are doing this because it is the plan of the government to undertake an aggressive exploration of the country’s oil reserves within its territorial waters,” the minister said.

In April, Deputy Energy Minister Mohamed Amin Adam ANNOUNCED the country would hold an exploration licensing round in Q4.