Email: petroleumregister@petrocom.gov.gh
Telephone: +233 [0] 302 902505 | +233 [0] 302 953392  |  Plot No. 4A, George Bush Highway, Accra, Ghana
P.O. Box CT 228 Cantonments, Accra, Ghana

© 2017 Petroleum Commission

DEEPWATER CAPE THREE POINTS 

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

OTHER CONTRACTING PARTIES:

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

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

 

Contract Area Size: 1,474 sq.km

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

FISCAL TERMS

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.