ExxonMobil exits Ghana deepwater block: report

Ghana

ACCRA, June 1, 2021 – ExxonMobil has relinquished its 80% operating stake in Ghana’s Deepwater Tano Cape Three Points block, Bloomberg reported on Monday.

The company made its exit after fulfilling its obligations under the licence’s initial exploration period, according to a letter it sent to the Ghanaian government, seen by Bloomberg.

ExxonMobil, which has not publicly confirmed the news, acquired the stake in early 2018 following direct negotiations with the government. Its partners were Ghana National Petroleum Corporation, with 15%, and Ghana Oil Company, with 5%.

Bloomberg reported that works completed included the processing about 2,200 square kilometres of 3D-seismic data, and no exploration wells were drilled.

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