Award of the Offshore South-West Tano Block (“OSWT”)
Blue Star Exploration Ghana Limited and its partners Heritage Exploration and Production Ghana limited and GNPC Exploration and Production Company Limited have been awarded the OSWT Block, offshore Ghana. The Petroleum Agreement was ratified by the Ghana Parliament this afternoon at the twenty-third sitting of the second meeting of Parliament.
The ratification of the OSWT Petroleum Agreement is Blue Star Exploration’s second award of an offshore petroleum agreement in Ghana. The OSWT Block is about 175 square kilometres in size and located within the Tano Cape-Three Points Basin. The OSWT Block is located between the producing Jubilee Field and the TEN Field which is expected to produce in 2016.
Blue Star Exploration and its partners are committed to the OSWT Block and the Government of Ghana to deliver our obligations under the Petroleum Agreement. The Petroleum Agreement shall become effective once some conditions as detailed in the Petroleum Agreement are met by Blue Star and its partners.