After unveiling Ghana’s maiden Oil and Gas Licensing Round Bid Evaluation and Negotiation (LRBEN), which was aimed at attracting interested investors both locally and internationally, last year, October 15, the initiative seem effective.

The Ministry of Energy has received 60 applications from 16 oil companies.

The applicants are expected to go through a bidding process, to be allocated the right, to explore blocks under the maiden Oil and Gas Licensing Round.

Prospective bidders submitted their applications for the oil blocks on December 20, 2018

However, out of 58 valid applications, 43 are interested in competitive bidding, while 15 want direct negotiation.

A team is currently evaluating the pre-qualification applications and the list of pre-qualified companies would be published on January 21.

The oil blocks are expected to be awarded to successful bidders on August 31, 2019.

Mr John Peter Amewu, the Minister of Energy, who announced this at a conference mentioned some of the interested companies as ExxonMobil, British Petroleum, Tullow Ghana Limited, Total and ENI Ghana.

Other companies include Vitol, Kosmos Energy, Aker Energy, China National Offshore Oil Corporation, Cairn Energy, Qatar Petroleum, Global Petroleum Group, First E&P, Sasol, Equinor and Harmony Oil and Gas Corporation.

He said the modalities for direct negotiations for oil blocks would be made public at the right time.