South West Saltpond Block

Terminated agreement.

Terminated agreement.

Agreement terminated since April 2021.

The agreement for this block was terminated on 27th April 2021 for non-performance. The block is part of the six selected blocks the Ministry of Energy marketed to investors as part of the 2022 Ghana Oil and Gas Roadshows in Houston, USA and London, Aberdeen in the UK. For payment obligations on the South West Saltpond Block, Britannia U has an outstanding surface rental payment of US$760,208.83 as of June 2022. The agreement for this block was terminated on 27th April 2021 for non-performance. The block is part of the six selected blocks the Ministry of Energy marketed to investors as part of the 2022 Ghana Oil and Gas Roadshows in Houston, USA and London, Aberdeen in the UK. For payment obligations on the South West Saltpond Block, Britannia U has an outstanding surface rental payment of US$760,208.83 as of June 2022.

The 2019 ACEP Contract Monitor reports that the contractors were still interpreting seismic data, but the full extent of their work obligation has not been met. No drilling has been undertaken. There were reports of an internal conflict among the partners, confirmed by the Petroleum Commission. This conflict has been resolved and the partners have brought in a Norwegian partner to provide technical and financial assistance. The contractors have requested another extension to complete their work and expenditure obligations. The 2019 ACEP Contract Monitor reports that the contractors were still interpreting seismic data, but the full extent of their work obligation has not been met. No drilling has been undertaken. There were reports of an internal conflict among the partners, confirmed by the Petroleum Commission. This conflict has been resolved and the partners have brought in a Norwegian partner to provide technical and financial assistance. The contractors have requested another extension to complete their work and expenditure obligations.

The Contractor undertook minimal G&G studies in 2019. The Work Programme and budget for 2020 have not been submitted. The Contractor undertook minimal G&G studies in 2019. The Work Programme and budget for 2020 have not been submitted.

The contractor did not fulfill the full extent of the minimum work obligation. No drilling has been undertaken. The contractor did not fulfill the full extent of the minimum work obligation. No drilling has been undertaken.