{"id":15083,"date":"2025-06-09T06:48:20","date_gmt":"2025-06-09T06:48:20","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=15083"},"modified":"2025-06-09T06:48:21","modified_gmt":"2025-06-09T06:48:21","slug":"ghana-tullow-kosmos-energy-petrosa-gnpc-explorco-sign-mou-to-extend-production-licences-to-2040","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/ghana-tullow-kosmos-energy-petrosa-gnpc-explorco-sign-mou-to-extend-production-licences-to-2040\/","title":{"rendered":"Ghana, Tullow, Kosmos Energy, PetroSA, GNPC &amp; Explorco sign MoU to extend Production licences to 2040"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Government of Ghana, Tullow Oil plc (Tullow), Kosmos Energy (Kosmos), PetroSA, GNPC and Explorco are pleased to announce that they have entered into a Memorandum of Understanding (MOU) to extend the West Cape Three Points (WCTP) and Deep Water Tano (DWT) licences to 2040, which cover the Jubilee and TEN fields in Ghana.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The MOU includes approval to drill up to 20 additional wells in the Jubilee field, representing investment of up to $2 billion in Ghana over the life of the licences. As a result of the extension the JV partnership expects to realise a material increase in gross 2P reserves.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A number of principles are covered within the MOU that will help underpin the continued development of the Jubilee and TEN fields, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A commitment to work to increase in the supply of gas from the Jubilee and TEN fields to c.130 mmscf\/d<\/li>\n\n\n\n<li>A reduced gas price for Jubilee associated gas<\/li>\n\n\n\n<li>A guaranteed reimbursement mechanism for gas sales<\/li>\n\n\n\n<li>Investment in Ghana National Petroleum Corporation (GNPC) and the Petroleum Commission\u2019s capacity with a focus on the use of advanced technology<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">All terms and conditions of the existing WCTP and DWT Petroleum Agreements remain in place and continue unchanged.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The next steps, following this MOU, are the submission for approval of a Jubilee Plan of Development (PoD) Addendum, entering into new fully termed gas sales agreements (GSA), and the submission for parliamentary approval of the payment security mechanism and licence extensions planned before the end of the third quarter of 2025.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Hon. John Abdulai Jinapor, Ghana\u2019s Minister for Energy and Green Transition, commented:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cThis Memorandum of Understanding between the Republic of Ghana and the DWT and WCTP partners marks a significant step forward in our nation&#8217;s energy sector. Extending the licenses to 2040 demonstrates our commitment to fostering a stable and attractive investment climate. This MOU will not only ensure the continued production of oil, supporting our economic growth, but also allow us to further develop our infrastructure and create more job opportunities for our citizens. We are dedicated to responsible resource management and look forward to a prosperous future fuelled by sustainable energy practices.\u201d<\/em>The Government of Ghana, Tullow Oil plc (Tullow), Kosmos Energy (Kosmos), PetroSA, GNPC and Explorco are pleased to announce that they have entered into a Memorandum of Understanding (MOU) to extend the West Cape Three Points (WCTP) and Deep Water Tano (DWT) licences to 2040, which cover the Jubilee and TEN fields in Ghana.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The MOU includes approval to drill up to 20 additional wells in the Jubilee field, representing investment of up to $2 billion in Ghana over the life of the licences. As a result of the extension the JV partnership expects to realise a material increase in gross 2P reserves.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A number of principles are covered within the MOU that will help underpin the continued development of the Jubilee and TEN fields, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A commitment to work to increase in the supply of gas from the Jubilee and TEN fields to c.130 mmscf\/d<\/li>\n\n\n\n<li>A reduced gas price for Jubilee associated gas<\/li>\n\n\n\n<li>A guaranteed reimbursement mechanism for gas sales<\/li>\n\n\n\n<li>Investment in Ghana National Petroleum Corporation (GNPC) and the Petroleum Commission\u2019s capacity with a focus on the use of advanced technology<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">All terms and conditions of the existing WCTP and DWT Petroleum Agreements remain in place and continue unchanged.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The next steps, following this MOU, are the submission for approval of a Jubilee Plan of Development (PoD) Addendum, entering into new fully termed gas sales agreements (GSA), and the submission for parliamentary approval of the payment security mechanism and licence extensions planned before the end of the third quarter of 2025.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Hon. John Abdulai Jinapor, Ghana\u2019s Minister for Energy and Green Transition, commented:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cThis Memorandum of Understanding between the Republic of Ghana and the DWT and WCTP partners marks a significant step forward in our nation&#8217;s energy sector. Extending the licenses to 2040 demonstrates our commitment to fostering a stable and attractive investment climate. This MOU will not only ensure the continued production of oil, supporting our economic growth, but also allow us to further develop our infrastructure and create more job opportunities for our citizens. We are dedicated to responsible resource management and look forward to a prosperous future fuelled by sustainable energy practices.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Richard Miller, Chief Financial Officer and Interim Chief Executive Officer of Tullow, commented:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cThis is a valuable step forward for the Government of Ghana, Tullow and our JV partners, highlighting the collaborative and constructive relationship we all have in reaching our shared goal of building a better future for the people of Ghana, through responsible oil and gas development. This extension and the fiscal stability of our contracts emphasizes the opportunity Ghana represents to deliver additional value through production and reserves additions, providing greater long-term optionality and materiality to these core assets.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Andy G. Inglis, Chairman and Chief Executive Officer of Kosmos, commented:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>&#8220;This memorandum of understanding recognizes the importance of oil and gas in Ghana and the desire of the new administration to create an attractive environment for new investment in the sector. Extending the Ghana production licenses is highly accretive, adding material reserves and enabling the partnership to continue investing in the country for the long-term. This investment is expected to maximize the value of the fields for the benefit of the country\u2019s economic development and Kosmos\u2019 shareholders. We look forward to working with President Mahama and his government to invest in and advance Ghana\u2019s energy sector.&#8221;<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Government of Ghana, Tullow Oil plc (Tullow), Kosmos Energy (Kosmos), PetroSA, GNPC and Explorco are pleased to announce that they have entered into a Memorandum of Understanding (MOU) to &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/ghana-tullow-kosmos-energy-petrosa-gnpc-explorco-sign-mou-to-extend-production-licences-to-2040\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":10984,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11,7444],"tags":[9752,11938,997,7478,8393,2778,8250,9198,2571,11724],"class_list":["post-15083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","category-west-africa","tag-deep-water-tano","tag-explorco","tag-ghana","tag-gnpc","tag-jubilee-field","tag-kosmos-energy","tag-petrosa","tag-ten-field","tag-tullow-oil","tag-west-cape-three-points","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/map-Ghana-source-Kosmos-1024x663-1.jpg?fit=1024%2C663&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3Vh","jetpack-related-posts":[{"id":12074,"url":"https:\/\/www.oilnewskenya.com\/index.php\/ghana-tullow-completes-pre-emption-of-deep-water-tano-component-of-kosmos-energy-occidental-petroleum\/","url_meta":{"origin":15083,"position":0},"title":"GHANA: Tullow Completes Pre-emption of Deep Water Tano Component of Kosmos Energy\/Occidental Petroleum","author":"","date":"March 21, 2022","format":false,"excerpt":"Tullow Oil has announce that it has completed the pre-emption related to the sale of Occidental Petroleum\u2019s interests in the Jubilee and TEN fields in Ghana to Kosmos Energy. The cash consideration paid on completion was $118 million reflecting closing adjustments and was funded from cash on the balance sheet.\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/map-Ghana-source-Kosmos-1024x663-1.jpg?fit=1024%2C663&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/map-Ghana-source-Kosmos-1024x663-1.jpg?fit=1024%2C663&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/map-Ghana-source-Kosmos-1024x663-1.jpg?fit=1024%2C663&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/map-Ghana-source-Kosmos-1024x663-1.jpg?fit=1024%2C663&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":11116,"url":"https:\/\/www.oilnewskenya.com\/index.php\/ghana-tullow-exercises-pre-emption-rights-of-deep-water-tano-component-of-kosmos-energy-occidental-petroleum\/","url_meta":{"origin":15083,"position":1},"title":"GHANA: Tullow Exercises Pre-emption Rights of Deep Water Tano component of Kosmos Energy\/Occidental Petroleum","author":"","date":"November 11, 2021","format":false,"excerpt":"Tullow Oil has announced that it has exercised its right of pre-emption related to the sale of Occidental Petroleum\u2019s interests in the Jubilee and TEN fields in Ghana to Kosmos Energy. Pre-emption summary Tullow to pre-empt on Deep Water Tano (DWT) Block interest indirectly acquired by Kosmos Energy Post completion,\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/GHANA-Deepwater-Tano.jpg?fit=449%2C596&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":15488,"url":"https:\/\/www.oilnewskenya.com\/index.php\/ghana-mauritania-kosmos-energy-signals-strong-2026-outlook-as-oil-output-rises-and-gta-lng-ramps-up\/","url_meta":{"origin":15083,"position":2},"title":"GHANA\/ MAURITANIA: Kosmos Energy Signals Strong 2026 Outlook as  Oil Output Rises and GTA LNG Ramps Up","author":"","date":"January 7, 2026","format":false,"excerpt":"Kosmos Energy has outlined a strong operational and production outlook for 2026, underpinned by rising oil output in Ghana\u2019s Jubilee field, long-term license security for its offshore assets, and accelerating liquefied natural gas (LNG) production from the Greater Tortue Ahmeyim (GTA) project offshore Mauritania and Senegal. Jubilee Field to Start\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/kosmos-energy.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/kosmos-energy.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/kosmos-energy.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/kosmos-energy.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/kosmos-energy.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":10983,"url":"https:\/\/www.oilnewskenya.com\/index.php\/occidental-sells-2-ghana-offshore-fields\/","url_meta":{"origin":15083,"position":3},"title":"Occidental Sells 2 Ghana offshore fields","author":"","date":"October 15, 2021","format":false,"excerpt":"\u00a0Occidental has agreed to sell its interests in two Ghana offshore fields for $750 million to Kosmos Energy ($550 million) and Ghana National Petroleum Corporation (GNPC) ($200 million), prior to closing adjustments to reflect an April 1, 2021 effective date. The sale to Kosmos closed upon signing and the sale\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/map-Ghana-source-Kosmos-1024x663-1.jpg?fit=1024%2C663&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/map-Ghana-source-Kosmos-1024x663-1.jpg?fit=1024%2C663&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/map-Ghana-source-Kosmos-1024x663-1.jpg?fit=1024%2C663&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/map-Ghana-source-Kosmos-1024x663-1.jpg?fit=1024%2C663&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":15508,"url":"https:\/\/www.oilnewskenya.com\/index.php\/sonatrach-ghana-national-petroleum-corporation-gnpc-research-and-development-rd-partnership-signals-africas-energy-future-is-innovation-led\/","url_meta":{"origin":15083,"position":4},"title":"Sonatrach-Ghana National Petroleum Corporation (GNPC) Research and Development (R&amp;D) Partnership Signals Africa\u2019s Energy Future is Innovation-Led","author":"","date":"January 12, 2026","format":false,"excerpt":"\u00a0Algeria\u2019s state-owned oil company Sonatrach and the Ghana National Petroleum Corporation (GNPC) have signed a Memorandum of Understanding (MoU) under the auspices of the African Petroleum Producers Organization (APPO), formalizing plans for a strategic partnership focused on research, development and innovation (R&D) in the oil and gas sector. Signed in\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/FPSO-Aseng-.jpg?fit=665%2C475&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/FPSO-Aseng-.jpg?fit=665%2C475&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/FPSO-Aseng-.jpg?fit=665%2C475&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12659,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-tullow-announces-its-half-year-results-for-the-six-months-ended-30-june-2022\/","url_meta":{"origin":15083,"position":5},"title":"Tullow Oil (Tullow) announces its Half Year results for the six months ended 30 June 2022.","author":"","date":"September 14, 2022","format":false,"excerpt":"2022 First Half Results Summary Group working interest production for the first half of 2022 averaged 60.9 kboepd, in line with expectations. Ghanaian drilling programme ahead of schedule, having completed two previously drilled wells and drilled and completed another three wells. A further six wells are expected to be drilled\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=15083"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15083\/revisions"}],"predecessor-version":[{"id":15084,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15083\/revisions\/15084"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/10984"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=15083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=15083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=15083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}