Clontarf Energy PLC and its partner Petrel Resources PLC, have announced that they are now in talks with Ghanaian authorities and negotiations are ongoing concerning a possible award of some acreage.

The partners, in June, were summoned to begin negotiations regarding the procurement of an offshore block over the Tano basin block in respect of the prior application on deep-water Tano Basin acreage as well as replacement acreage for the signed petroleum agreement on Tano 2A block.“No assurances can be given that such negotiations will lead to a successful outcome for the company,” they said.

Clontarf and Petrel are partners through their stakes in Pan Andean Resources (Ghana) Ltd. they both hold a 30% and 60% interests respectively in the company, while the other 10% is held by local interests in Ghana, Energy-pedia news reports.

In 2014, it was announced that the Ghanaian Ministry of Petroleum were considering awarding an offshore area to a third-party. Pan Andean believed the area was partly made up its own Tano 2A block, which was covered by a petroleum agreement signed back in 2010.

As a result, the company effected an injunction to prevent authorities from awarding the area in question to another company.

The original block is an offshore block named Lukoil B. It encompassed approximately one third of Pan Andean's Tano 2A block and was awarded to CAMAC, an American company operated by a Nigerian.The new land offered to Pan Andean helped to preserve the size of the block.

Anita Fatunji