Ghana ranks as one of the most financially and politically stable, truly democratic countries in Africa. The Offshore Accra Contract area is located to the southeast of Accra, the capital of the Republic of Ghana, in water depths ranging from less than 50 metres to greater than 2,500 metres.
The Offshore Accra Contract Area is part of an emerging oil province on the West Africa Transform Margin, along the northern Gulf of Guinea. A number of discoveries have been made in a variety of analogous geological settings along this margin. In 2007, the Jubilee field (one of the largest oil discoveries in the world in 2007) was discovered by Kosmos Energy and Tullow Oil, establishing a new deepwater play offshore Ghana. Subsequent discoveries in Ghana (Tweneboa, Odum, Owo, Teak, Akasa, Dzata, Sankofa, Gye Nyame and Paradise) and in the Liberian Basin (Venus and Mercury) have further demonstrated the potential that exists along the whole margin.