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Ghana Contract Monitor

8. Deepwater Cape Three Points

Contract Parties

ExxonMobil (Operator), GOIL, GNPC.

Effective Date/Initial Exploration Period

Effective Date: November 28, 2018

Initial Exploration Period (2.5 years): November 28, 2018 – May 27, 2021

Minimum Initial Exploration Programme

  • Acquire, process and interpret 2,222 km square of 3D seismic
  • Drill one (1) Exploration Well

Minimum Expenditure

US$ 35,000,000

The contractors on this block are required to acquire, process, and interpret 2,200 square kilometers (850 square miles) of 3D seismic data and an optional exploration well in their initial exploration phase.

The contractors were granted a restitution time of nine (9) months by the Minister for Energy to compensate for the time lost due to the COVID-19 pandemic.

In May 2021, ExxonMobil voluntarily relinquished their full interests (80 percent) in the block after successfully fulfilling the relevant minimum work obligations. The 80 percent interest relinquished by ExxonMobil has reverted to the State.