ExxonMobil pulled out of its deep-water oil prospecting operation just two years after Ghana ratified an exploration and production agreement with the company. The company relinquished the entirety of its stake in the Deep-water Cape Three Points block and resigned as its operator after fulfilling its contractual obligations during the initial exploration period, according to a letter to the government of Ghana. In an interview with media at Goil's Annual General Meeting in Accra, Mr Osei-Prempeh said the likelihood of the country getting more shares in the new investment is high. So as at now, GNPC has assured us that people are knocking on their doors so now that Exxon is out that doesn’t mean their investments are gone. The work done so far included processing about 2,200 square kilometers (850 square miles) of seismic data, but Exxon didn’t drill any exploratory wells.

Source: GhanaWeb June 30, 2021 15:22 UTC