Energy Ministry opens bids for Licensing Rounds of oil blocks
The Ministry of Energy on Tuesday, 21st May 2019 publicly opened bids submitted in the ongoing Licensing Rounds for the country’s petroleum blocks in Accra.Companies that submitted bids included Tullow Ghana Limited, Eni Ghana (Exploration and Production) Limited and First E and P Limited/Vitol Upstream Tano Limited.
The bid opening was done in line with Regulation 17 of the Petroleum (Exploration and Production- General) Regulations 2018, L.I 2359, which stipulates, regarding bidding rounds that the Minister shall open the bids in public.
Mr Lawrence Apaalse, Chief Director of the Ministry, who opened the bids on behalf of the sector Minister, said the event was an important marker for ensuring greater transparency in the upstream petroleum contracting process and the upstream industry at large, adding that the three competitive bids were received for three blocks under competitive bidding and sixteen applications for Direct Negotiations.
Madam Patricia Asaam, Coordinator of the Licensing Rounds indicated that the bidders would be adequately evaluated after which successful bidders would be announced.
The event was attended by the media and civil society organizations such as the Natural Resource Governance Institute, (NRGI).