In late 2018, US operator ExxonMobil Corp reportedly signed a Joint Operating Agreement (JOA) with Ghana Oil Company Ltd (GOIL) for the Deepwater Cape Three Points (DWCTP) block, offshore western Ghana. ExxonMobil signed the initial contract with Ghana National Petroleum Corporation (GNPC) a year ago on 18 January 2018, but the third minority partner was not identified yet. The US Major will hold 80% operated interest in the blocks, GNPC will have 15% interest, and GOIL 5%. The official award is still subject to governmental approval.  Block DWCTP (about 1,460 sq km) is located between current blocks operated by PetroGulf, UB Resources and AGM Petroleum, in water depths ranging from 1,550 to 2,850 m.  Ghana Oil Company Ltd (GOIL) was originally incorporated as a private limited liability company in 1960 as AGIP Ghana Company Ltd, later joined by Hydrocarbons International Holdings in 1968. In 1974, the Government of Ghana acquired the shares of both companies and became Ghana Oil Company Ltd. It is only in 2007 that it adopted new regulations and was converted into a public company. Its main business is marketing and distribution of petroleum products in Ghana.
Ghana, Deepwater Cape Three Points