Ghana: Parliament ratifies new block for Eco Atlantic, A-Z


Issue 283 - 09 Aug 2014 | 1 minute read

Parliament has ratified a petroleum agreement for the highly prospective Deepwater Cape Three Points West Block, adjacent to the Jubilee field. Namibia-focused Eco (Atlantic) Oil & Gas will operate the block with a 50.51% stake, while Nigerian-owned A-Z Petroleum Products Ghana will have 32.14%, Ghana National Petroleum Corporation (GNPC) will hold 13%, and GNPC Exploration and Production Company will hold 4.35%. The contract area covers 944km² in water depths of between 800 and 2,000 metres. Eco Atlantic was founded by president and chief executive Gil Holzman, described as having “significant experience in the mining and energy resource sectors throughout Africa”.

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