Ghana, companies sign MOU to extend Ghana licenses to 2040

Tullow, Kosmos, PetroSA, Ghana National Petroleum Company (GNPC) and Explorco entered into a Memorandum of Understanding (MOU) with the government of Ghana to extend the West Cape Three Points and Deep Water Tano licenses to 2040, which cover the Jubilee and TEN fields in Ghana.

The MOU includes approval to drill up to 20 additional wells in the Jubilee field. The next steps following this MOU are the submission for approval of a development plan addendum and the submission for parliamentary approval of payment security mechanism and license extensions, planned before the end of Q3 2025.