Ghana’s First Oil Licensing Round: Ministry Of Energy Publishes Final Bidders’ List

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Peace Obi

Ghana’s first oil and gas exploration licensing round which started in October last year is nearing conclusion as the country’s Ministry of Energy on Thursday published the final bidders’ list for the available oil blocks.

The Ministry in a circular signed by the Minister responsible for Petroleum, John Peter Amewu that has the list of participating bidders showed Tullow and ENI/Vitol bidding for Block 3 while First E&P for Block 2.

The statement read, “Whereas subparagraph (i) of paragraph (b) of regulation 17 of the Petroleum (Exploration and Production) (General) Regulations, 2018 (L.I. 2359) requires the Minister responsible for Petroleum to publish the list of participating bidders for exploration and production rights within the territory of Ghana. 

“Now, therefore, I, Hon. John Peter Amewu, Minister responsible for Petroleum do give notice to the participating bidders as specified in the Schedule for 2018/2019 Petroleum Licensing Rounds bidders for exploration and production rights within the territory of Ghana.

The final bidders’ list which has only three companies competing for the available oil blocks emerged from the 14 companies that made it to the pre-qualification stage out of the 16 companies that originally applied for the oil blocks.

Ghana’s President, Nana Addo Dankwa Akufo-Addo launched the country’s first oil and gas exploration licensing round in October. Blocks 2, 3 and 4 were open for bidding, while deepwater blocks 5 and 6 were said to be allocated through direct negotiations.

The head of communications at the Ministry of Energy, Nana Damoah, said, “The objective of prequalification is to ensure that we only allow companies that have the financial muscle, technical competence and are willing to give us the best in terms of local content to move on to the next level.”

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