The Chief Executive Officer of GOIL PLC, Ghana’s leading indigenous oil marketing company, Mr. Edward Abambire Bawa, has held a high-level strategic meeting with executives of Planet One Group, GOIL’s joint venture partner for the Deepwater Cape Three Points (DWCTP) project offshore Ghana.
According to Mr. Bawa, the discussions centred on ensuring comprehensive preparedness ahead of the exploratory drilling campaign slated for next year. Key areas of focus included operational readiness, project financing, local content participation, and strict compliance with regulatory and environmental standards.
“For GOIL, the DWCTP project represents more than an exploration effort it reflects our unwavering commitment to developing local technical capacity, strengthening national energy security, and positioning Ghanaian enterprise at the heart of upstream value creation,” Mr. Bawa stated.
He reaffirmed GOIL’s dedication to stakeholder collaboration, emphasizing the company’s resolve to work closely with the Petroleum Commission, GNPC, and host communities to ensure the venture contributes meaningfully to Ghana’s energy future.
GOIL selected Dubai-based Planet One Group as its joint venture partner after U.S. oil and gas major ExxonMobil relinquished its stake in the offshore block in 2021. Prior to its exit, ExxonMobil held an 80% interest, with GNPC and GOIL Upstream holding 15% and 5% respectively.
Following ExxonMobil’s withdrawal, GOIL Upstream Ghana assumed the 80% interest previously held by the American firm and was tasked with securing a new partner. ExxonMobil reportedly invested nearly US$50 million in the block including seismic data acquisition before its departure.
In 2023, GOIL Upstream formalized its partnership with Planet One Group through Farm-in and Joint Operating Agreements, marking a renewed commitment to advancing Ghana’s deepwater exploration and strengthening the nation’s upstream sector.