Making its first foray outside Australia and Southeast Asia, Australia's Tap Oil said Tuesday it has reached agreement with Ghana National Petroleum Corp. (GNPC) to explore in the so-called Accra Contract Area offshore Ghana. Tap, which will hold a 36% operating stake in a joint venture alongside US independents Challenger Minerals - a subsidiary of offshore drilling giant Transocean - and AFEX International, is awaiting formal government approval.
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