Government is still locked up in negotiations with oil giant Kosmos Energy over the renewal of the latter’s operational license for the undeveloped parts of West Cape Three Points (WCTP) Block offshore Ghana.
Kosmos’s exploration phase of the petroleum agreement covering the block came to an end last month. Citi Business News has learnt a number of oil companies including American multinational energy corporation Chevron have shown interest in the block.
A technical committee which was specifically set up to look into the renewal of the license is reported to have presented its findings to the legal committee of the Ghana National Petroleum Corporation (GNPC).
However sources say GNPC’s main responsibility is to provide technical advice to the government on the issue but renewal will be up to government.
It is however unclear when or whether the Kosmos’s license will be renewed following Kosmos’s past disputes with the country which has since been resolved.