Explorco has announced plans to drill it\u2019s first well in the basin in Q1 2026\u2014the first such activity since 1974. Speaking at the executive roundtable Michael Aryeetey, Managing Director of Explorco, outlined the company\u2019s focus on frontier exploration, notably in the Voltaian Basin where they are seeking strategic partners.<\/p>\n\n\n\n
\u201cThe Voltaian Basin is a national priority with significant potential, \u201cMr. Aryeetey said. \u201cWe seek strategic partners to join us in realizing its value.\u201d<\/p>\n\n\n\n
Speaking at the executive roundtable alongside Victor Kofi Sunu-Attah, Technical Advisor to Ghana National Petroleum Corporation (GNPC\u2019s) CEO and former General Manager of Engineering said both speakers underscored the need for robust public policy, regulatory reforms, and a stable investment environment to rebuild investor confidence and drive upstream growth.\u00a0<\/p>\n\n\n\n
Earlier at the Local Content Conference and Exhibition 2024 (LCCE) in Takoradi Aryeetey emphasized that this vast onshore basin, covering over 100,000 square kilometers, could unlock significant oil and gas reserves for Ghana\u2019s energy sector. He described the basin as a potential \u201cgame changer,\u201d which holds immense geological promise, though it remains largely unexplored.<\/p>\n\n\n\n
The Voltaian Basin covers approximately 104,000KM\u00b2 or 40% of Ghana\u2019s land mass. The basin is a sedimentary Neoproterozoic basin, with a number of similarities to areas in North Africa and elsewhere, which are already producing significant volumes of hydrocarbons.<\/p>\n\n\n\n
Offering some historical context, he said the Basin has been overlooked for decades, with the first exploration efforts dating back to the 1960s when the government partnered with the former USSR to conduct preliminary geological surveys. However, it wasn\u2019t until 2005, with the aid of the European Union and the Minerals Commission, that serious interest in the basin resurfaced. Since then, GNPC has invested over $160 million in seismic data acquisition, providing crucial insights into the basin\u2019s geological structures.<\/p>\n\n\n\n
GNPC and Explorco reaffirmed their commitment to leading policy innovation, fostering partnerships, and securing Ghana\u2019s energy future through sustainable upstream development.<\/p>\n","protected":false},"excerpt":{"rendered":"