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Ghana Contract Monitor

4. South Deepwater Tano (3,482sqkm)

Contract Parties (Operator)

AGM Petroleum Ghana Ltd, EXPLORCO and GNPC

Effective Date/Initial Exploration Period

Effective Date: January 24, 2014
Initial Exploration Period (3 years+2 years extension):
January 24, 2014 – January 23, 2019

Minimum Exploration Program (Initial Phase)

  • Acquire, process and interpret 750sqkm of 3D seismic data
  • Drill a minimum of two (2) Exploration Well
Minimum Expenditure

$259,000,000
Observations as of 2017

The company was also affected by ITLOS ruling. It got extension 
into the second phase in 2016. The company reports it is 
analyzing seismic data with plans to acquire 3D data in 2017.
2019 Update

The Contractor drilled two exploration wells, the Nyankom-1X and the Kyenkyen-1X. Nyankom-1X was declared a discovery.
2020 Update

Contractor submitted an appraisal programme for the 
Nyankom-1X discovery for PC’s approval. PC reviewed the 
documents and proposed changes for incorporation. 

Resubmission of Appraisal Programme, approval and 
commencement of appraisal activities may be delayed. 
Contractor has informed the Commission of suspension 
of of operations to ensure the  safety of its personneldue 
to CODVID-19.