Ghana Signs Exploration Framework with Shell and Chevron

Shell and Chevron have signed a non-binding agreement with Ghana to explore the South Deepwater Tano Cape Three Points oil and gas block.

The memorandum of understanding, signed with the Ghana National Petroleum Corporation, provides a framework for negotiations on the final licence terms and remains subject to regulatory approvals.

The block is located in Ghana's Tano Basin, covering about 3,482 square kilometres of deep to ultra-deep waters, with an estimated hydrocarbon potential of more than 3 billion barrels.