Swiss African Oil Company (a subsidiary of Swiss African Petroleum AG) and PET Volta Investments have been awarded a new exploration and production license, the Keta Delta block, located in the Volta Region of Ghana.
The acquisition makes Swiss African Oil and PET Volta the first to explore for oil onshore Ghana.
The Keta Delta block license was awarded following ratification by the Parliament of the Republic of Ghana of a joint venture between the Government of Ghana, the Ghana National Petroleum Corporation, Swiss African Oil Company Limited and PET Volta Investments Limited.
The new block covers an area of 3000 square kilometers and it is envisaged that the commencement of operations will provide employment and stimulate local development of the region
Source: B&FT Online