Swiss African Oil & Pet
Volta Gains License To Do Exploration In Volta Keta Basin
Swiss African Oil & Pet Volta awarded onshore/offshore
exploration and production license for Volta Keta Basin
Swiss African Oil Company (a subsidiary of Swiss African Petroleum
AG) and PET Volta Investments have been awarded a new exploration and
production license for 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 3,000 square kilometers and it is envisaged
that the commencement of operations will provide employment and stimulate local
development of the region.
Source:
Richard Annerquaye Abbey