Gov’t terminates oil block negotiations with Eni, Vitol, CNOOC
The Ministry of Energy has ended negotiations with four oil companies – China National Offshore Oil Corporation (CNOOC), First E&P Development Company/Elandel Energy Ghana, Eni Ghana E&P/Vitol Upstream Tano Ltd, and KOKA Energy Ltd – following two years of fruitless talks over petroleum agreements.
The memorandums of understanding between the ministry and the companies have expired, and the ministry has opted not to renew them.
The oil blocks are now available for re-licensing and the affected firms have been informed they can reapply if they remain interested.
The Ministry has been conducting roadshows to attract investment in Ghana’s available oil blocks, attracting interest from several oil companies.
