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05.11.2018 Business & Finance

Africa Oil Week: Ghana Hosts Exclusive Bidding

By Daryl Kwawu | JoyBusiness
Africa Oil Week: Ghana Hosts Exclusive Bidding
LISTEN NOV 5, 2018

Ghana will be hosting exclusive roadshow and bidding round highlighting licensing and investment opportunities to global operators and investors at this year’s Africa Oil Week Conference.

The event taking place in Cape Town, South Africa is bringing together major players in the oil and gas sector.

Deputy Energy Minister, Mohammed Amin Adam will be opening the anticipated round which will focus on six blocks ranging in size from 1,000 square kilometres which are in the highly prospective Western Basin.

Two of the blocks are ultra-deep-water, at 3,000m+ and they carry 2D and 3D seismic data from the period of 2000–2013.

Liscensing round
President Akufo-Addo in October 2018 launched the country’s first oil and gas exploration licensing.

Blocks 2, 3 and 4 are open for bidding and deepwater blocks 5 and 6 are to be allocated through direct negotiations.

International oil companies with interest are expected to make submissions by end of November while local companies will be pre-qualified for participation in December 2018.

Other highlights
Another highlight of the 25th Africa Oil Week is the release of the findings of the 8th edition of PwC’s Oil & Gas Review.

The review provides an overview of the oil & gas industry in Africa, looking at challenges and opportunities in the sector against the backdrop of a growing population and rising energy demand.

CEO of the Ghana Infrastructure Investment Fund, Solomon Asamoah is expected to take part in a panel discussion on future funding models in the African energy sector. This session will cover topics such as global funding, mergers and acquisitions in the African upstream sector and funding strategies.

Africa Oil Week
Africa’s governments, national oil companies, investors, licensing agencies and corporate oil/gas players will be at the 25th edition of the Africa Oil Week conference from 5th - 9th November 2018.

This event will shape the continent’s upstream oil and gas strategy, and provide the most-trusted content and networking platform worldwide on Africa’s hydrocarbon industry.

It is the leading business intelligence and transaction platform for Africa’s oil and gas sector

What is new for 2018 is the AOW Prospect Forum, where National Oil Companies, Independents and Geo-service Companies will take to the stage to showcase open acreage, broker farm-out opportunities and present data viewings.

1,300 attendees from over 70 countries are expected at the event.

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