Adomako-Mensah Credits Akufo-Addo Government For Groundwork Behind New Oil Discovery
The Deputy Ranking Member of Parliament’s Energy Committee and MP for Afigya Kwabre North, Collins Adomako-Mensah, has attributed the groundwork behind Ghana’s latest oil and gas discovery in the Deepwater Tano Cape Three Points (DWTCTP) block to the previous administration led by former President Nana Addo Dankwa Akufo-Addo.
He said a number of key decisions and approvals required to advance the exploration project were secured under the Akufo-Addo government, and has called for its contribution to be recognised.
His comments follow President John Dramani Mahama’s announcement on Tuesday, November 10, of an oil and gas discovery in the Deepwater Cape Three Points block within the Tano Basin.
The discovery was made by Planet One Oil and Gas Limited in collaboration with the Ghana National Petroleum Corporation (GNPC), following the drilling of the Nya Gyidie-1X exploration well. The find contains gas and condensate, although its commercial size is yet to be determined.
In a Facebook post on Wednesday, November 11, Mr Adomako-Mensah provided a timeline of the events and government approvals that paved the way for Planet One to acquire an interest in the block and eventually become its operator.
He traced the process to May 2021, when ExxonMobil, which was then operating the DWTCTP contract area, informed the relevant authorities of its intention to relinquish its interest in the block.
He explained that after ExxonMobil’s exit, the Ministry of Energy approved the transfer of the company’s 80 per cent participating interest to GOIL Offshore in May 2022. GOIL Offshore already held a five per cent interest in the block, bringing its total stake to 85 per cent, while GNPC retained the remaining 15 per cent.
According to the MP, the Ministry later instructed GOIL Offshore to find a strategic partner to help it fulfil its obligations under the petroleum agreement.
This led to the Ministry’s approval on February 14, 2024, for GOIL Offshore to transfer 75 per cent of its participating interest to Planet One Oil and Gas Limited.
Planet One was subsequently selected by the partners to operate the contract area, a nomination that also received approval from the Ministry.
Mr Adomako-Mensah further pointed to the extension of the Initial Exploration Period, which he said gave the companies additional time to complete technical studies and prepare for exploratory drilling.
He said the Petroleum Commission granted an initial six-month extension, followed by another 18 months, bringing the extended period to January 2, 2026.
The extension, he explained, was intended to allow the partners to carry out further studies and undertake an exploration well.
Summarising the work completed before the change of government, Mr Adomako-Mensah wrote:
“Thus, by January 7, 2025, when the Akufo-Addo-Bawumia administration handed over to President Mahama, all the background work from the side of the state culminating in the just announced discovery had been sealed,” he wrote.
He called for the previous administration’s contribution to the project to be acknowledged, singling out former Energy Minister Dr Matthew Opoku Prempeh for his role in the process.
“Let us give credit when necessary!!!!” he said, adding: “Dr. Matthew Opoku Prempeh You played a key role. Thanks, sir.”
