Ghana: Parliament ratifies two new exploration deals

Parliament has ratified petroleum agreements for the South Deepwater Tano and East Cape Three Points blocks. South Deepwater Tano has been awarded to a new Ghana National Petroleum Corporation (GNPC) subsidiary, GNPC Exploration and Production Company (Explorco), which will jointly operate the block with a 79% stake, while AGM Petroleum Ghana will hold the other 21% interest. AGM Ghana is a subsidiary of AGM Gibraltar, owned by Norway’s AGR Energy (49.5%), Minexco (48%) and local player MED Songhai Developers (2.5%).