GNPC Engages Financial Adviser

The Ghana National Petroleum Corporation (GNPC) has engaged Morgan Stanley & Co. Limited (Morgan Stanley) as its financial adviser with regard to certain oil and gas assets offshore Ghana, an official statement from GNPC said in Accra yesterday.

GNPC is a state-owned corporation responsible for petroleum exploration, development, production and marketing in Ghana.  

The Corporation has a 10 per cent initial participating interest in the West Cape Three Points and Deepwater Tano concession areas.  

The Corporation has also taken up an additional participating interest to the extent of 3.75 per cent in the Jubilee field, which straddles the two concession areas.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking and other services.  

'Morgan Stanley is acting as financial adviser to GNPC and no one else in connection with the aforementioned matters and will not be responsible to anyone other than GNPC for providing the protections afforded to the clients of Morgan Stanley nor for providing advice in relation to the aforementioned matters, the contents of this announcement or any other matter referred to herein,' the statement said.