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Youth and Oil & Gas Governance in Ghana - Friedrich-Ebert-Stiftung ...

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<strong>Youth</strong> <strong>and</strong> <strong>Oil</strong> & <strong>Gas</strong> <strong>Governance</strong> <strong>in</strong><strong>Ghana</strong>Who Owns the <strong>Oil</strong>?Article 257(6) of the <strong>Ghana</strong>ian Constitution of 1992 states: “Everym<strong>in</strong>eral <strong>in</strong> its natural state <strong>in</strong>, under or upon any l<strong>and</strong> <strong>in</strong> <strong>Ghana</strong>,rivers, streams, water courses throughout <strong>Ghana</strong>, the exclusiveeconomic zone <strong>and</strong> any area covered by the territorial sea or cont<strong>in</strong>entalshelf is the property of the Republic of <strong>Ghana</strong> <strong>and</strong> shall bevested <strong>in</strong> the President on behalf of, <strong>and</strong> <strong>in</strong> trust for the people of<strong>Ghana</strong>.”However, the right for exploration, development <strong>and</strong> productionof different offshore blocks was sold <strong>in</strong> 2004. Below is a summaryof the shares of the various partners:Deepwater Tano BlockTullow <strong>Oil</strong> & <strong>Gas</strong> (Operator) 49.95%, Kosmos Energy 18%,Anadarko Petroleum Corporation 18%, <strong>Ghana</strong> National PetroleumCorporation 10%, Sabre <strong>Oil</strong> & <strong>Gas</strong> 4.05%.West Cape Three Po<strong>in</strong>tsKosmos Energy (Operator) 30.875%, Anadarko Petroleum Corporation30.875%, Tullow <strong>Oil</strong> & <strong>Gas</strong> 22.896%, <strong>Ghana</strong> NationalPetroleum Corporation 10%, EO Group 3.5%, Sabre <strong>Oil</strong> & <strong>Gas</strong>1.854%.Jubilee Field (located <strong>in</strong> both blocks)Tullow <strong>Oil</strong> & <strong>Gas</strong> (Operator) 34.705%, Kosmos Energy (technicaloperator for development) 23.491 %, Anadarko Petroleum Corp.23.491 %, <strong>Ghana</strong> National Petroleum Corporation 13.75 (10%carried <strong>in</strong>terest, potential 3.75% work<strong>in</strong>g <strong>in</strong>terest, if they decideto apply for their back-<strong>in</strong> right with<strong>in</strong> 60 days after productionstarted), Sabre <strong>Oil</strong> & <strong>Gas</strong> 2.813 %, EO Group 1.75%. [Offshore-Technology.com, 2011]34

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