OPERATOR: Exxonmobil Exploration and Production Ghana (Deepwater) Limited -80% interest in block


  1. GOIL Offshore Ghana Limited - 5% interest in block

  2. Ghana National Petroleum Corporation (GNPC) – 15% interest in block


Contract Area Size: 1,474

Effective Date: November 28, 2018

Exploration Period:  6 years

Current Phase of Operations: Initial Exploration Period (2½ years): [ November 28, 2018 – May. 28, 2021]

Minimum Initial Exploration Programme

  • Acquire, process and interpret 2,222 km square of 3D seismic

  • Drill one (1) Exploration Well

  • Minimum Expenditure: US$ 35,000,000


Status of Operations


Royalty: Ten percent (10%) of the Gross Production of Crude Oil shall be delivered to the State as Royalty.

The Royalty to be delivered to the State on Natural Gas shall be at the rate of ten percent (5%) for the Natural Gas destined to the domestic market and ten percent (5%) for Natural Gas to be exported as LNG.


Income Tax: In accordance with the provisions of the Income Tax law, petroleum income tax shall be levied at thirty five percent (35%).


Withholding Tax: Save for withholding tax at the rate of five percent (5%) from the aggregate amount due to any Subcontractor.

Surface Rental

Additional Oil Entitlement: Refer to the Petroleum Agreement.