Shell and Chevron Partner with Ghana on South Deepwater Tano Block
Ghana has signed a memorandum of understanding (MoU) with Shell and Chevron to explore and develop the South Deepwater Tano block, located in the deep-to-ultra-deepwater Tano Basin. The agreement covers around 3,482 square kilometers of water depth approaching 3,500 meters.
The MoU brings international majors into the appraisal of the existing Nyankom discovery made by AGM Petroleum in 2019. Shell has described it as a non-binding framework for further negotiations and development of a future petroleum agreement, subject to necessary approvals.
Ghana is seeking to revive upstream investment while production continues to fall. Oil output dropped from 48.24 million barrels in 2024 to 37.3 million barrels in 2025, according to the Africa Oil+Gas Report.