Ghana appoints bid round committee

Ghanaian Minister of Energy Emmanuel Boakye Agyarko has set up a committee to evaluate bids in the upcoming licensing round, local media reported Wednesday.

Ghana will conduct its first exploration licensing round in Q4. The country, which currently produces about 200,000 bopd, is preparing to offer around six offshore licences.

The 19-member Licensing Bid Evaluation and Negotiation Committee will set up the data room and other documentation and pre-qualify applicants, as well as evaluate bids and negotiate with the winners.

The new committee is intended to increase transparency and accountability in the bidding process. A roadshow in London and Houston is planned, and the pre-qualification deadline is set for December.

The new round is intended to promote exploration in the country. “Our first class production assets will enter their natural decline phase as we continue to deplete this exhaustible natural resource. At the same time, exploration activity has slowed down since the dawn of the low price era in 2014,” the minister was quoted as saying by news portal Myjoyonline.