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Exxon has been awarded a petroleum agreement from the government of Ghana to for the acquisition and production rights for the Deepwater Cape Three Points Block.
Exxon will be the operator of the asset with an 80% stake.
The company has seen success offshore West Africa in recent months - in December 2017, the company struck oil offshore Equatorial Guinea.
Exploration activities, including acquisition of seismic data and analysis, are expected to commence later in 2018. The Deepwater Cape Three Points block, located 57 miles (92 kilometers) off the coast of Ghana, measures approximately 366,000 acres (1,482 square kilometers) in water depths ranging from 5,085 feet to 9,350 feet (1,550 meters to 2,850 meters).
Other Interest Holders:
Ghana National Petroleum Corporation holds 15 percent interest. ExxonMobil will work with the government to identify a Ghanaian company to potentially hold up to 5 percent interest.
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