Award of the East Keta Block
The Ghana Parliament has today ratified a Petroleum Agreement for the Ultra Deepwater East Keta Block (“EK”). The Petroleum Agreement is by and among Blue Star Exploration Ghana Limited (“Blue Star”), the Government of the Republic of Ghana, Ghana National Petroleum Corporation, GNPC Exploration and Production Company Limited and Heritage Exploration and Production Ghana Limited. This gives us and our partners on the block the license to conduct exploration operations in the block.
Blue Star is excited to be granted the opportunity to explore in the Accra-Keta basin which is a frontier exploration area. The basin is the western extension of the Dahomeyan embayment that stretches east covering Togo, Benin and Western Nigeria and ending just before the Niger Delta in Nigeria.
We will work with our partners and the Government of Ghana to satisfy all conditions precedent to make the Petroleum Agreement effective and commence exploration operations on the block. We hope to use this opportunity to promote a collaborative effort in exploration activities with the Ghana National Petroleum Corporation to open up the ultra-deep water Accra-Keta basin.