Ghana: Azonto drops Accra block

Already suffering delays to its Côte d’Ivoire project, Azonto Petroleum has opted not to review the licence for the offshore Accra Block after failing to secure new partners. After former operator Ophir Energy pulled out in March 2014, Azonto’s subsidiary Azonto Petroleum (Ghana), in which Vitol E&P Limited has a 43% interest, and its partner Afex Oil (Ghana) secured a six-month licence extension to September 2014. They were unable to secure a farm-out, and Azonto said the partners had formally advised the Ministry of Energy and Petroleum that the contract area had been relinquished and Azonto had withdrawn as temporary operator. The Starfish commitment well in mid-2013 failed to find hydrocarbons.