Credit Akufo-Addo's govt for new oil discovery – Adomako-Mensah to NDC

The Deputy Ranking Member of Parliament's Energy Committee and MP for Afigya Kwabre North, Collins Adomako-Mensah, has attributed the groundwork behind Ghana's latest oil and gas discovery in the Deepwater Cape Three Points (DWTCTP) block to the previous administration led by former President Nana Addo Dankwa Akufo-Addo.

He said key contractual negotiations, approvals and administrative processes that paved the way for the exploration project were completed under the Akufo-Addo government, insisting that its contribution to the discovery should be acknowledged.

His comments follow President John Dramani Mahama's announcement on Tuesday, November 10, of a new hydrocarbon discovery in the Deepwater Cape Three Points block within the Tano Basin.

The discovery was made by Planet One Oil and Gas Limited in partnership with the Ghana National Petroleum Corporation (GNPC) after drilling the Nya Gyidie-1X exploration well. The well encountered gas and condensate, although the estimated size of the discovery is yet to be determined.

In a Facebook post on Wednesday, November 11, Mr Adomako-Mensah provided a timeline of decisions and regulatory approvals that facilitated Planet One's entry into the contract area and its eventual appointment as operator.

He traced the process to May 2021, when ExxonMobil, the then operator of the DWTCTP contract area, informed the authorities of its intention to relinquish its interest in the block.

Following the company's exit, the Ministry of Energy approved the transfer of its 80% participating interest to GOIL Offshore in May 2022. GOIL Offshore, which already held a 5% stake, consequently increased its interest to 85%, while GNPC retained the remaining 15%.

Mr Adomako-Mensah said the Ministry subsequently instructed GOIL Offshore to identify a strategic partner to help it fulfil its obligations under the petroleum agreement.

The process eventually led to the Ministry's approval, on February 14, 2024, of GOIL Offshore's request to transfer 75% of its participating interest to Planet One.

Planet One was later nominated by the partners to operate the contract area, a decision which also received ministerial approval.

The MP further highlighted the extension of the Initial Exploration Period, explaining that the additional time was granted to enable the companies to complete outstanding technical studies and prepare for exploratory drilling.

According to him, the Petroleum Commission approved an initial six-month extension, followed by a further 18 months, bringing the extended exploration period to January 2, 2026.

He said the extension was specifically intended to allow the partners to undertake additional studies and drill an exploration well.

“Thus, by January 7, 2025, when the Akufo-Addo-Bawumia administration handed over to President Mahama, all the background work from the side of the state culminating in the just announced discovery had been sealed,” he wrote.

Mr Adomako-Mensah called for recognition of the previous government's contribution to the development, singling out former Energy Minister Matthew Opoku Prempeh for his role in the process.

“Let us give credit when necessary!!!!” he said, adding: “Dr. Matthew Opoku Prempeh You played a key role. Thanks, sir.”