GHANA WESTERN BASIN BLOCK 01 (GH_WB_01)
- Petroleum Agreement
- Registration Permits
- Exploration and Development Permits
- Licenses to Install and Operate Facilities
- Permits to Install and Operate Facilities
- Reconnaissance Licenses
- Drilling Permits
- Production Permits
- Flaring or Venting Authorisations
- Approval of Third Party Access
- Permitted Mortgages
- Assignments
- Any Other Permit, Authorization, Approval, Certificate or Consent
OPERATOR: Tristar Upstream Oil & Gas Ltd – 65% Participating Interest
OTHER CONTRACTING PARTIES:
- GNPC Exploration and Production Company Limited (GNPC EXPLORCO) – 15% Participating interest
- Ghana National Petroleum Corporation (GNPC) – 15% Initial Participating Carried Interest.
- Indigenous Ghanaian Company – 5% Participating interest
Contract Area Size: 1,110 sq.km
Effective Date: 11th November, 2025
Exploration Period: 7 years
Current Phase of Operations: Initial Exploration Period
Minimum Initial Exploration Programme
- Acquire 1200sqkm of 3D seismic data
- Conduct geological and geophysical studies
- Drill one (1) exploration well
- Minimum Expenditure Obligation: US$20,000,000
Status of Operations
Exploration
FISCAL TERMS
NO. | DESCRIPTION | TERMS |
1. | Royalty (% of gross production) · Oil · Gas |
· 10% · 5% |
2. | Carried Interest (%) | · 15% |
3. | Additional Interest (%) | · 5% |
4. | Equity for Indigenous Ghanaian Company (IGC) (%) | · 5% |
5. | Signature Bonus (US$) | · $50,000 |
6. | Production Bonus (US$) | · TBD by Minister |
7. | Acreage Fees (US$) | · $ 285,000 as at initial exploration period |
8. | Corporate Income Tax | · 35% |
9. | Other Payments · Technology Support (one-time payment in US$) · Training Allowance (annual payment in US$) · Local Content Fund |
· $600,000 p.a
· $250,000 p.a
· $50,000 p.a
|
Surface Rental Fees
Phase of Operation | Acreage Fee Per Annum |
Initial Exploration Period | US$150 per sq km |
First Extension Period | US$300 per sq km |
Second Extension Period | US$300 per sq km |
Development & Production Period | US$600 per sq km |
Additional Oil Entitlement is as prescribed by law per the computation schedule. Refer to the Petroleum Agreement.
