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.