ExxonMobil return talks emerge as GIPA CEO holds back details

The Ghana Investment Promotion Authority (GIPA) CEO, Simon Madjie, has indicated that there have been discussions regarding the potential return of ExxonMobil to Ghana. However, he has refrained from providing any details, directing further inquiries to the Minister of Energy and the Petroleum Commission. On Joy News’ PM Express Business Edition, Madjie stated, “I knew that there were some talks for them to come back.

It’s not something that can be disclosed now.” He declined to supply specifics, including a timeline or terms, leaving the matter at the discretion of the energy authorities.

The conversation is relevant in light of recent statements from the Energy Minister concerning companies like Shell and ExxonMobil interested in the petroleum sector. Madjie had initially mentioned the Petroleum Commission and the ministry as sources for further information, emphasizing the ongoing discussions at the Africa Oil Week, where Chevron and Shell had signed a Memorandum of Understanding (MOU) for work in the Eastern Keta Basin.

Additionally, there was reported interest from Petrobras regarding the examination of some of Ghana’s petroleum lands. Madjie also highlighted existing investments in Ghana, including plans by the Jubilee partners to invest $2 billion and drill 20 wells in the Jubilee field, as well as a $1.5 billion announcement by ENI and its partners.

When specifically asked about ExxonMobil, Madjie acknowledged the potential for the company to return but did not confirm any agreement or decision, stating, “I’m sure folks at the Petroleum Commission will give you a lot more technical details.” Thus, while talks about a possible return by ExxonMobil are ongoing, Madjie has been cautious about disclosing any concrete information.