More oil deposits available in Ghana

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June 23, 2016 10:57 AM

Addressing a gathering of high-powered Oil and Gas players across the world in the 2016 Deep Offshore West Africa Congress, Mr. Michael Aryeetey said, GNPC and the government of Ghana have undertaken initial exploration and data collection that look very positive for more discoveries.

Michael Aryeetey, COO of EXPLOco.

Chief Operations Officer of EXPLO co., the Ghana National Petroleum Corporation’s commercial subsidiary, Michael Aryeetey, has urged oil and gas investors to keep a keen interest in Ghana, as there is potential for more oil discoveries in Ghana.

“ The West African deep-water offshore is very prolific. And we believe so because there is an abundance of rich oil-prone source rocks right from the Avian, to the Cinemanian and other geological areas along the West African coast and especially Ghana.”

He charged all oil and gas companies present at the Deep Offshore West African Congress to begin looking at Ghana for further exploration works.

Mr. Aryeetey cited the major success of earlier exploration companies in the country like Tullow Ghana, Cosmos Energy, Anadako and ENI.

The Deep Offshore West Africa Conference 2016, brought together high-powered players in the Oil and Gas exploration in Africa and the world to assess further potential in oil and gas exploration in West Africa, as well as share knowledge in discoveries and operations.

Mr. Aryeetey also revealed that the Petroleum Ministry will soon open be accepting bids for oil blocks after the new Petroleum Exploration bill in parliament is passed.

“ Previously, we had awarded huge exploration acreages as an encouragement to companies interested in doing exploration in Ghana, as there were huge risks at the time. But with the positive developments of recent years, that has changed. And once the new Petroleum Exploration bill is passed, the Petroleum Ministry will be ready to accept new bids for blocks”,he said.

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