GNPC in talks with Shell over oil exploration in East Keta basin

oil rig kris krug flickrGhana National Petroleum Corporation (GNPC) is reportedly in talks with Royal Dutch Shell over an exploration and production deal offshore East Keta Basin

The basin, which lies in the Gulf of Guinea between the port city of Tema and the Tongolese border, is among many oil blocks in Ghana which is attracting foreign investors, stated reports.

Alex Mould, chief executive of GNPC, said, ”We are in discussions right now with Shell in the East Keta basin. We are also in discussions with Chevron. They are looking at where they want to come in the data room and we should hear from them in a couple of months.”

In 2010, Ghana began pumping oil at its offshore Jubilee field where Tullow Oil has the largest stake, with production expected to reach 110,000bpd by 2014.

GNPC is reportedly exploring various options offshore and onshore Ghana, it said.

According to Reuters, GNPC is spending US$20mn to drill six narrow holes in order to confirm a hydrocarbon presence in the Voltaian basin. The next step will be a seismic survey before blocks can be divided.

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