IRVING, Texas– ExxonMobil has signed a petroleum agreement with the government of Ghana to acquire exploration and production rights for the Deepwater Cape Three Points block. The agreement is subject to parliamentary ratification.
Exploration activities, including acquisition of seismic data and analysis, are expected to commence later this year. The Deepwater Cape Three Points block, 57 mi (92 km) offshore, measures about 366,000 acres (1,482 sq km) in water depths ranging from 5,085 ft to 9,350 ft (1,550 m to 2,850 m).
ExxonMobil will carry out the work program as operator and holds 80% interest. Ghana National Petroleum Corp. holds 15% interest. The company said that it will work with the government to identify a Ghanaian company to potentially hold up to 5% interest.