GHANA OIL EXPLORATION
Strata Africa (Oil) has been registered with GNPC (Ghana National Petroleum Company) and is currently in the process of obtaining it's National License to proceed with Oil and Gas Exploration in Ghana, which will be done in conjunction with strategic partners.
Ghana has land and sea based Oil reserves which require extensive exploration, currently only the sea based blocks / concessions are being explored and this has only been successfully done by one company due to capital and expenditure constraints within the industry.
However even with constraints Africa’s latest oil exporter Ghana will ramp up production significantly by 2017. According to the Deputy Minister of Finance and Economic Planning, Fifi Kwetey, the country will produce 500,000 barrels per day by 2017. Ghana currently produces an average of 90,000 barrels per day from its main Jubilee field. The country plans to increase this production to 120,000 by next year.
Strata Africa (Oil) has built some strong relationships with local license holders and concession holders and the company strategy is as follows: