Recently, Ghana Investment Promotion Centre (GIPC) said ExxonMobil will soon sign an agreement with the government of Ghana and Ghana National Petroleum Corporation (GNPC) to start oil and gas exploration activities in the deep-water Cape Three Points area of the country, which indicates this company formally enters the field of oil and gas development in Ghana.
In 2010, Exxon Mobil had hoped to enter the upstream of Ghana by acquiring a stake in the Jupiter oil field of Kosmos but failed. Cape Three Points has a depth of 2,000 to 4,000 meters. Two companies made it clear that the risk of oil and gas exploration in that area was too high. However, the Ghanaian government said it is confident about ExxonMobil's operating experience and capabilities in the deepwater area.
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