15 oil exploration companies in Ghana will lose their licenses by the end of 2019   

27 May 2019 : Ghana’s Energy Minister, John Peter Amewu, says at least 15 oil exploration companies are likely to lose their operating licences by end of this year, owing to their failure in meeting the basic rules pertaining to the exploration of the country’s oil fields.These include non-payment of annual ground rent and failure to comply with exploration rules set by the Ghana National Petroleum Corporation (GNPC) and the Ghana Petroleum Commission.

To make matters worse, the licenses of these companies will expire before the end of the year, and looks like the government is in no mood to renew their license. The companies have received the government’s notice of their impending doom.

"Most of the companies are already aware, and we have made it clear that after the assessment by the Petroleum Commission, we're not going to renew some of the licenses because they haven't carried out any obligations which indicate that they cannot do the work. We’re not going to allow that in this country again. As a government, we think others that are interested must also be given the opportunity to explore rather than being with a particular firm that is not capable of doing any exploration activity,” Mr Amewu said. Although, there wasn't any mention of the names of these companies, the process has already begun and it won’t be long before these companies will be thrown out of the oil fields.

Some of the firms at the meeting included Aker Energy, Kosmos Energy Ghana, Tullow Oil, Eni and other major players in the upstream petroleum sector.

Reporting for EasyKobo on Monday , 27 May 2019 in Lagos, Nigeria

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