According to the statement, the agreement brings together Tullow Oil plc, Kosmos Energy, PetroSA, the Ghana National Petroleum Corporation (GNPC), and Explorco, and will see the West Cape Three Points (WCTP) and Deep Water Tano (DWT) licences—home to the Jubilee and 10 fields—extended by 15 years.
The country is expected to fork out approximately US$83.4million by March 31, 2024 as its initial subscription capital to the recently proposed Africa Energy Bank (AEB), which it is seeking to host.