Boakye Agyarko, the Ghanaian Minister for Energy, has established a 22-member committee to supervise open competitive bidding of Ghana’s oil blocks to interested companies.
The Licensing Bid Evaluation and Negotiation Committee will cover technical, commercial, and legal issues. Its role will be to assess investors seeking to start oil exploration and production in Ghana and advise the minister before an agreement is signed. It will then issue recommendations to the government.
The Energy Ministry reportedly plans to offer nine new blocks for exploration offshore the country’s western coast – six this year and three more in 2019.
GNPC will likely take on one of the blocks in partnership with another company.