Our Oil Blocks Are Ready To Be Tapped – Energy Minister Tells Investors In London

Energy Minister, Dr Matthew Opoku Prempeh has asked investors in London to take advantage of the numerous opportunities in Ghana’s upstream petroleum industry. Dr Prempeh who is leading the Ghanaian delegation is seeking to put on show six (6) available oil blocks for massive investment which are the Deep Water Cape Three Points Block, Offshore Cape Three Points South Block, Shallow Water Cape Three Points Block and Southwest Saltpond Block.

It also include the Expanded Shallow Water Tano (ESWT) Block, and Offshore Cape Three Points South (OCTPS) Block. At a strategic roadshow event at the Cavendish Conference Centre in London, Dr Prempeh said Ghana has four Sedimentary basins of significance to oil and gas namely; Western, Central, Eastern and the Voltaian. He said the Western basin has Ghana’s three actively producing deepwater oil and gas fields.

Dr. Prempeh added that the Voltaian basin is onshore and the remaining two are largely offshore. Most parts of the offshore basins are open for E&P activities. “GNPC is currently exploring the Voltaian Basin to establish its prospectivity, following which the basin will be open to investors” he said.

The Minister who is also Member of Parliament for Manhyia South told investors that the Jubilee Field became Ghana’s first commercial deepwater discovery which further deepened the interest for deepwater exploration in Ghana. “Having fast-tracked the development of the Jubilee Field, first commercial oil production commenced in December 2010, barely 40 months from discovery” he added.