Signing of Contract agreement between ExxonMobil and GOIL

Ghana Oil Company Limited, GOIL has signed a Joint Operating Agreement with ExxonMobil of the United States for Deep-water Cape three points area oil exploration.

The agreement between GOIL and ExxonMobil followed the completion of an elaborate and rigorous due diligence by ExxonMobil. The agreement is also being sealed after a no-objection approval from the Ghana Government represented by the Ministry of Energy.

This fulfills the Local content law which stipulates a 5% stake reservation for a local entity.

Source: Goil

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