Ghana Government has announced a 79% share in income from the South deep water Tano block at this time under survey.
This is a contract Cabinet arrived yesterday, a deputy Minister of Information Felix Kwakye Ofosu has confirmed.
The South Deep water Tano block has been a focus of cooperation among government of Ghana, AGM Petroleum Ghana limited and GNPC survey and Production Company limited.
According to government of Ghana, these companies involved in this combined scheme have established volume to carry out survey and making in the event that we make findings of oil.
Findings have been made there by Tullow Oil Company and two other oil companies.
Deputy Information Minister Felix Kwakye Ofosu says unlike in previous dealings, government is happy with the deal touched.
He told it is the hope of Ghana government that this would pave the way for other favourable terms to be entered into in the future.
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