Hon Collins Adomako -Mensah (MP,Afigya Kwabre North and Former Deputy Energy Minister) writes;

THE HARD TRUTH ABOUT THE PLANET ONE DISCOVERY
On 18th May, 2021, Exxon Mobil, the then Operator of the Deeepwater Tano Cape Three Points (DWTCTP) Contract Area wrote to the Minister for Energy communicating its decision to relinquish its interest in the Contract Area.

Prior to the relinquishment of interest, Exxon Mobil as Operator of the Contract Area held an 80 per cent participating interest, GNPC 15 per cent and GOIL Offshore (formerly GOIL Upstream Limited) 5%.

GOIL Offshore as a partner wrote a letter dated 26th April 2022 to the Minister for Energy indicating among others its desire to continue operations in the Contract Area.

By a letter dated 18th May, 2022, the Ministry of Energy responded to GOIL Offshore’s letter commending it for its decision and communicated the transfer of Exxon Mobil’s 80 per cent participating interest in the DWTCTP Contract Area to it. With this, GOIL Offshore came to hold 85 per cent particpating interest whilst GNPC held 15 per cent. The Ministry’s letter also directed GOIL Offshore to get a strategic partner to get a strategic partner as soon as practicable to enable it meet its obligations under the DWTCTP Petroleum Agreement.

On 14th Devember, 2023, GOIL Offshore wrote a letter to the Ministry of Energy seeking approval to transfer 75 per cent of its 85 per cent participating interest in the DWCTP Contract Area to Planet One. The Ministry, in a reply letter dated 14th February, 2024 communicated its approval of the transfer of 75% of GOIL Offshore’s interest to Planet One. Planet One and GOIL Offshore jointly wrote a letter dated 16th February, 2024 to the Ministry expressing appreciation for the approval of the transfer of 75% of GOIL Offshore’s participating interest to Planet One.

GOIL Offshore and Planet One signed a Farm Out and Joint Operating Agreement (JOA) consequently.

On 23rd May, 2024, GOIL Offshore wrote to the Ministry informing it of the nomination of Planet One as the Operator of the DWTCP Contract Area by the Partners. The Ministry gave its approval to the nomination of Planet One as Operator of the DWTCTP Contract Area.

On 5th January, 2024, GOIL Offshore and Planet One wrote a joint letter to the Ministry of Energy seeking an extension to the Initial Exploration Period (IEP) under the DWTCTP PA by a year. The letter indicated that the partners needed the 12 month extension to enable them carry out outstanding works to finalise plans to drill an exploratory well.

The two companies wrote another letter dated 1st July, 2024 to the Ministry in respect of the extension of the IEP. The Ministry in turn wrote a letter to the Petroleum Commission dated 12th July, 2024 informing it of the request and recommended a grant of the request.

The Petroleum Commission had on 11th July, 2024 written to GOIL Offshore and Planet One approving a two part extension to the IEP in the nature of:
(a) an initial extension of 6 months from 2nd January, 2024 to 2nd July, 2024 restituting six months lost to the DWTCTP Contract Area as they worked to complete the farm out process, and

(b) a further extension of 18 months commencing on 1st July, 2024 and ending on 2nd January, 2026.

The extensions amounted to 24 months (2 years).

The Commission’s letter granting the extensions made it clear that the extension is to enable GOIL Offshore and Planet One to carry out additional studies to drill an exploration well during the period granted.

Thus, by January 7, 2025 when the Akufo-Addo-Bawumia administration handed over to President Mahama, all the background work from the side of the state culminating in the just announced discovery had been sealed.

Let us give credit when necessary!!!!!

Dr. Matthew Opoku Prempeh You played a key role. Thanks sir