Ghana Investment Promotion Authority (GIPA) CEO Simon Madjie has confirmed that there have been talks about ExxonMobil returning to Ghana's petroleum sector. However, he declined to disclose further details, citing the need for the energy authorities to provide more information. Madjie made these remarks during an interview on Joy News' PM Express Business Edition.
The issue arose when the host asked about multinational companies seeking to enter or return to Ghana's petroleum sector. The host recalled earlier comments from the Energy Minister about companies such as Shell and ExxonMobil expressing interest in returning to the sector. Madjie referred questions about the discussions to the Minister of Energy and the Petroleum Commission.
Madjie outlined other developments in the sector, including the signing of a Memorandum of Understanding (MOU) between Chevron and Shell to explore the Eastern Keta Basin. He also mentioned reported interest from Petrobras in examining some of Ghana's petroleum acreages and blocks. Additionally, Madjie cited investment announcements by companies already operating in the country.
The Jubilee partners have announced plans to invest $2 billion and drill 20 wells in the Jubilee field. ENI and its partners have also made a $1.5 billion investment announcement. Madjie emphasized that there are ongoing activities in the sector and that the Petroleum Commission and the ministry would have more detailed information.
When the host pressed Madjie for more information about ExxonMobil's potential return, Madjie held back, acknowledging talks about a return without confirming an agreement or a decision by the company to resume operations. He referred the host to the Minister of Energy and the Petroleum Commission for more information.
The GIPA CEO's comments suggest that there is ongoing interest from international companies in Ghana's petroleum sector. However, the lack of concrete details about ExxonMobil's potential return has left many questions unanswered. The Petroleum Commission and the Ministry of Energy have been urged to provide more information on the matter.
Ghana's petroleum sector has seen significant investment in recent years, with various companies announcing plans to explore and produce oil and gas in the country. The sector is expected to play a crucial role in Ghana's economic development, and the government's efforts to attract investment have been ongoing.
Key points
- ExxonMobil is in talks to return to Ghana's petroleum sector, according to GIPA CEO Simon Madjie.
- The talks are part of a broader interest from international companies in Ghana's petroleum sector.
- The GIPA CEO declined to disclose further details about the talks, citing the need for the energy authorities to provide more information.
