More firms seek exploration rights offshore Ghana

Papers covering petroleum agreements between government and some private companies and organisations for explorations rights are to be presented to parliament next week.

The first paper is the petroleum agreement among the government of Ghana, Ghana National Petroleum Corporation (GNPC), Cola Natural Resources Ghana Limited and Medea Development Limited, British Virgin Islands, for exploration rights in respect of the East Cape Three Points Block Offshore Ghana.

The second is the paper containing the agreement among government, GNPC, AGM Petroleum Ghana Limited and the GNPC Exploration and Production Company Limited in respect of the South Deepwater Tano Contract Area, which is also expected before parliament next Wednesday.

These were made known on the floor of parliament during the presentation of business schedule slated for members of parliament next week.

Meanwhile, members of parliament belonging to the Committee on Subsidiary Legislation are meeting to consider the Petroleum (Local Content and Local Participation) Regulation, 2013 Legislative Instrument 2204.

The work of the committee would help with the issue of local content in Ghana’s petroleum production as the committee is expected to present its deliberations in a report to the plenary session of parliament for consideration.

As part of next week’s schedule the Minister of Finance is also expected to appear before the MPs to respond to a question on whether there has been an increase in the producer price of cocoa for the 2013/14 buying season.

By Eunice Menka