AGM Petroleum Ghana Limited (AGM) and its owners have laid down their tools and voluntarily ceased operations at the South Deep Water Tano (SDWT) block.

A statement signed by the Chief Executive Officer of the company, Per-Kjetil Skare, noted that the move was after "carefully considering all options."

It further added that the "AGM is an independent company and the decision has no implication for Aker Energy’s plans in Ghana."

Meanwhile, AGM noted that it has carried out substantial activity in Ghana and contributed through drilling two ultra-deepwater wells including the Nyankom discovery, and matured the subsurface understanding to the benefit of the Ghanaian authorities and other industry players.

Below is the full statement:



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