11. Offshore Cape Three Points South Block
UB Resources (Operator), Royalgate Gh Ltd., Houston Drilling Management Gh Ltd., GNPC
Effective Date/Initial Exploration Period
Effective Date: September 17, 2014
Initial Exploration (3 years): September 17, 2014 – September 16, 2017
Minimum Exploration Program (Initial Phase)
License and reprocess existing 600sqkm of 3D seismic data relating to the Contract Area
- Acquire and reprocess new seismic data (if deemed necessary)
Drill one (1) Exploration Well
Observations as of 2017
The company has defaulted in its work and financial obligation. They still claim they are doing data interpretation.
The contractor has defaulted on the minimum work obligations. No drilling has been made.
The Contractor did not undertake any activity in 2019. The Work Programme and Budget for 2020 has not been submitted.
The contractors on this block are required to license and reprocess existing 600sqkm of 3D seismic data relating to the contract area and drill one (1) exploration well. The contractors have constituently failed to deliver on its minimum work obligations yet continue to hold on to the block.
The 2021 PIAC Semi-Annual Report reveals that the Petroleum Commission has commenced processes for the termination of this agreement on the grounds of non-performance.