Find out why Exxon Mobil, BP pulled out of bidding rounds – ACEP demands Featured

The Africa Center for Energy Policy (ACEP) has charged the Ministry of Energy to undertake some serious introspection to find out why big companies like ExxonMobil and British Petroleum, (BP) pulled out of the competitive bidding process for the 3 oil blocks put on offer by the Government.

Out of the 14 companies that were prequalified to bid for the 3 blocks put up on offer, only Tullow Oil, ENI and Vitol as well as First E and P submitted bids.

While describing the number of bids submitted as disappointing, the Executive Director of ACEP Ben Boakye, cautioned that if the necessary lessons are not learnt from this bidding exercise, future exercises might suffer.

“I think we need to do some introspection, probably find out from the companies why all of a sudden they were not interested in competing for the oil blocks, so that will inform our subsequent bidding rounds. Because if it happens like that the next rounds could be even more disappointing, because then you may not even have interest in the blocks.”

Mr. Boakye also urged relevant stakeholders to question why a large number of companies (16) rather applied for direct negotiation for the opportunity to explore blocks 5 and/or 6 in Ghana’s offshore oil area.

“What signal does the high interest in direct negotiation send?. In the coming days we have to really dig deeper to find out why the companies want to explore the direct negotiation option. Is it because that side of the equation is weak and therefore everybody wants to exploit or because there are some constraints built into the competitive tendering process that wards the companies off ?. So we have to dive deeper into the two-pronged approaches to learn and make our competitive tendering process better.”


The government, through the Energy Ministry, earmarked six oil blocks for exploration.

Three of the blocks; 2, 3 and 4-were to go through a competitive bidding process while two blocks-5 and 6-were supposed to be for direct negotiations.

One of the blocks was reserved for Ghana National Petroleum Corporation (GNPC).

The deadline for the submission of bids for the blocks elapsed at 3pm, May 21, 2019.

However, at about 15:15 GMT Tuesday, when the bids were opened in the presence of pressmen and representatives of some of the companies which were pre-qualified, ExxonMobil and British Petroleum were missing from the race.

Chief Director at the Ministry of Energy Lawrence Apaalse, told the press that the Ministry received information from the two companies, requesting direct negotiations for blocks 5 and 6 that they were no longer interested in the blocks.

Meanwhile, ENI and Vitol, as well as Tullow Ghana Limited, submitted bids for block 3 with First E&P submitting a bid for block 2.

However, there was no bid for block 4Interestingly, the ministry received about sixteen applications for direct negotiations.

The original pool of companies that put in a bid for the 3 oil blocks include China National Offshore Oil Corporation (CNOOC), Cairn Energy, Qatar Petroleum, Global Petroleum Group, First E&P, Sasol, Equinor and Harmony Oil and Gas Corporation.

The rest include ExxonMobil, British Petroleum, Tullow Ghana Limited, Total, ENI Ghana, Vitol, Kosmos Energy and Aker Energy.


Email This email address is being protected from spambots. You need JavaScript enabled to view it.


  • Comment Link Billy Billy 25 September 2019

    I do some voluntary work buy levitra The Mytablet's screen offers rather low 1024x600 resolution and the tablet has just 8GB of internal storage. There is a microSD card slot, however, for expandable storage up to 32GB, along with an HDMI port, a 2MP camera on the back and a low resolution VGA camera for video chat on the front. Argos claims five hours of battery life for the tablet.

  • Comment Link Pitfighter Pitfighter 25 September 2019

    I'm training to be an engineer levitra 20mg We defend the vulnerable, uphold the rights of the individual and family, believe in the rule of law, create opportunity for all and will fight, above all, for freedom; freedom from overbearing state interference and freedom to control your own life. These values are those of the British people.

  • Comment Link Felix Felix 25 September 2019

    I can't get through at the moment generic levitra
    Enjoying a flash flood of support, the BNP had previously taken 12 seats on the local council and Nick Griffin, the squinting vulture himself, had swooped down from his burnt out tree to try to gain the party’s first Parliamentary seat. But he hadn’t reckoned on the bundle of twinkly-eyed dynamite that is Margaret Hodge, who shifted up a gear, got pretty gritty and doubled her majority at the ballot box to win. Griffin came third and has not really been heard from in the years that followed.

  • Comment Link Dwain Dwain 25 September 2019

    I want to make a withdrawal levitra 20mg “We’ll just take it one step at a time and see how it goes,” Scioscia said. “But this is not something that’s going to heal in a week or two. After that we’ll just wait and get direction from our medical department and how Albert feels. It’s a significant amount of time, that’s what it’s going to take.”

  • Comment Link Alvin Alvin 25 September 2019

    real beauty page generic levitra online "Very few parents are going to say 'Nope, you have this amount in your 529 plan, I'm not helping with anything else,'" Burger says. He's told parents of current college students, "'You're going to run out of retirement if you pay for these college expenses,' and they still do it."

  • Comment Link Randy Randy 17 September 2019

    How do you do? indian xnxx Mr Baxendale-Walker, who lives in a £2.5 million house in Weybridge, a few miles from Miss Eustace, wound up his interests in the porn business last year, and last May sold Loaded magazine.

  • Comment Link Michael Michael 17 September 2019

    I'd like to pay this cheque in, please porn xnxx If approved as is, the proposed rule "would represent anotable shift in the Obama administration's biofuel policy,"said Jason Bordoff, professor and director of the Center onGlobal Energy Policy at Columbia University and a senior WhiteHouse energy adviser until late last year.

  • Comment Link Clark Clark 17 September 2019

    Will I have to work on Saturdays? xnxx/ "On the BIS enquiring, however, what was causing delay and saying that inconvenience would be caused because of payments the next day, the Bank of England acted on the instructions without referring to the Law Officers, who, however subsequently upheld their action."

  • Comment Link Demarcus Demarcus 17 September 2019

    How long have you lived here? abetube Bankers are also concerned that the lack of financingopportunities will lead to more aggressive terms on the dealsthat do emerge, as sponsors push investors to accept tighterpricing, higher leverage ratios and fewer covenants.

  • Comment Link Dexter Dexter 17 September 2019

    Best Site Good Work xnxxcom Despite the threat of strike action from delivery staff andcriticism from opposition lawmakers, the government is close tocompleting the sale of a majority stake in the near 500-year-oldRoyal Mail - the fourth attempt to sell off the postal service.

Leave a comment

Make sure you enter the (*) required information where indicated. HTML code is not allowed.

Featured Video