Gov’t Inaugurates Licensing Rounds and Bid Evaluation and Negotiation Committee

As part of effort to undertake Ghana’s first bidding rounds at the end of 2018, Government has inaugurated Licensing Rounds and Bid Evaluation and Negotiation Committee in Accra.

The terms and reference of the Committee is to prepare all the necessary documentation for a successful bid round; access and package all data on the acreages; set up online data room where all the data can be accessed by prospective bidders; embark on promotions and roadshows in collaboration with the Petroleum Commission.

Furthermore, invite bids from prospective applicants; carry out pre-qualification of applicants in line with a transparent criteria; negotiate with the winners and provide recommendations to the Minister for signing Petroleum Agreements.

In a statement, the Minister of Energy, Hon. Boakye Agyarko, disclosed that the focus of this year’s licensing rounds will be on the Western Basin, explaining that there exist infrastructure that could facilitate the development of any discovery made in the area.

He pointed out that there are at the moment two gas pipelines to shore, three production facilities (FPSOs) and a fourth FPSO to be ready by 2021.

“These assets will ensure a quick development of hydrocarbons, maximizing value and minimizing cost. The overall effect is increased revenue to the state and development benefits to our people”.

The Minister averred that the country’s first class production assets will enter their natural decline phase as it continues to deplete the exhaustible natural resource.

Exploration activity, he indicated, has slowed down since dawn of the low price era in 2014, and that it has been compounded by the boundary dispute between Ghana and La Cote d’voire.

He entreated all committee members to work in earnest to fulfill the mandate entrusted them and pray for God’s guidance and wisdom to enable them work effectively and deliver a very successful licensing round for mother Ghana.

The committee members have been grouped into three (3) sub-committees namely: the Technical, Commercial and Legal with Patricia Assam as Coordinator.

The Technical Sub-Committee is chaired by George Okley, MoEn, Commercial by Joseph Dadze, GNPC and Legal, Anita Lokko from MoEn.

By William Sarpong

 

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