Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Understanding how to acquire an oil licensed in Ghana

 

fpsoTo acquire an oil exploration license in Ghana, for both offshore and onshore, a prospective investor, must go through the following 10 steps:

Ministry of Petroleum (submission of receipt)

(a)Receipt of letter of interest (addressed to Hon. Minister) to acquire exploration block notifies Petroleum Commission (PC) of the receipt of letter.

Applicant may then be invited to make a presentation of the company to PC.

Applicant is advised (by letter) to formally request the PC for an appointment to visit the Data Room

Petroleum Commission

Applicant receives appointment and inspects data on available blocks/contract area at Data Room (minimum 2 weeks’ notice). A non-refundable fee of $1000/GHC equivalent is paid when blocking appointment for Data Room visit

Application and submission

Applicant identifies available block of interest and picks up application form at the Ministry of Petroleum.

Applicant then submits 4 hard copies and 4 soft/digital copies (pdf format) of Application Package including maps, spreadsheets etc.

Ministry of Petroleum (submission of application)

Receives application with a non-refundable application fee of US$ 10,000 by Bankers’ Draft, and screens application using basic checklist.

Acknowledges receipt of application

Sends copies of the Application Packages immediately to GNPC and PC

Evaluation Committee

Reviews and evaluates application

Sends evaluation report with outcome and recommendations to Hon. Minister for his consideration.

Minister of Petroleum (Decision)

Take decision on application (s) and advises applicant(s) accordingly

Government negotiation team

If application is considered successful, Hon. Minister sets up a negotiation team to negotiate a Petroleum Agreement with the applicant. If the application is unsuccessful, applicant is advised accordingly

Draft Petroleum Agreement is prepared following successful negotiation.

Ministerial Consultation

Ministers from Ministry of Petroleum, Finance, Environment and Justice consult on draft Petroleum Agreement.

Cabinet

Minister of Petroleum sends draft Petroleum Agreement to Cabinet for approval

Cabinet approved draft petroleum Agreement is sent for Parliamentary ratification

Parliament

Petroleum Agreement becomes effective on date of ratification

  By: DAVID ADUHENE TANOH-www.reportingoilandgas .com                                                     

 

Profile photo of Editor
Follow Us

Editor

Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
Profile photo of Editor
Follow Us

Share this article

Leave a reply

Personality of the Month
  • Prof. Thomas Mba Akabzaa Chief Director of Ministry of Petroleum          …
Follow Us Online
Join the Discussions

Summary: Revenue mobilization from the oil sector for Agricultural production in Ghana, a myth or reality?

Agriculture, once considered the backbone of Ghana’s economy recorded a reduction of its contribution to GDP from 45% in 1992…

Responses Add your response


About Us
Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
Events Calendar
<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
Twitter Activity Stream
 

Partners We are proud to be associated with:

Skip to toolbar