Ghana’s biggest indigenous oil marketing company, GOIL has taken up a 5 percent stake in Exxonmobil’s Deep water cape three point exploration agreement. The move fulfills the local content law which reserves at least 5 percent stake for local entities in Ghana’s upstream. A new subsidiary, Goil Offshore has been incorporated to that effect.
Meanwhile, the Minister for Finance, Mr. Ken Ofori-Atta says Ghana has enough capacity to absorb the 2 billion-dollar SinoHydro deal entered into with China. He said in addition to the 2 billion dollar, the one billion-dollar that should have been released by the Chinese government under the previous regime will also be accessed in 2019.
