11. Onshore/Offshore Keta Delta Block (3000sqkm)
Contract Parties
Swiss Africa (Operator), Pet Volta Investments, GNPC.
Effective Date/Initial Exploration Period
Effective Date: March 11, 2016
Initial Exploration Period (3 years): March 11, 2016 – March 10, 2019
Minimum Exploration Program (Initial Phase)
- Acquire, process and interpret 1100sqkm of 2D seismic
-
Drill one (1) Exploration Well
Minimum Expenditure
$40,000,000
Observations as of 2022
Agreement terminated for non-performance; Swiss Africa appealed; outstanding surface rental payment of US$862,500 on Onshore/Offshore Keta Delta Block.
The contractor has defaulted on the minimum work obligations. No progress information on the interpretation of legacy data but no drilling has been made.
The Contractor did not undertake any activity in 2019 citing a dispute with vegetable farmers and some inhabitants in the vicinity of the block as a cause of the inactivity.
In the 2019 ACEP Contract Monitor, the contractors were reported to have failed to fulfil their minimum work obligations but 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. It also reports that Swiss Africa has written to the Ministry of Energy to appeal the decision.
The agreement for this block was terminated on 27th April 2021 for non-performance. The 2021 PIAC Annual Report reveals that Swiss Africa had written to the Ministry of Energy to appeal the termination.
For payment obligations on the Onshore/Offshore Keta Delta Block, Swiss Africa has an outstanding surface rental payment of US$862,500 as of June 2022.