Ghana's downstream petroleum player, GOIL, is awaiting results of data collected by its partner ExxonMobil for the exploration of crude oil in the Deepwater Offshore Cape Three Points.

To this end, the company has also invested in the recruitment of local engineers and geologists to help in the production process.

Managing Director, Kwame Osei Prempeh, disclosing this to Joy Business after the virtual annual general meeting of Goil in Accra said, "Even though it is too early to predict, Exxon is very experienced in the field and like I said, they have collected the seismic data to study it in their America office and so far the information they are giving to us is good”.

“The major benefit to us is that at GOIL offshore, we have recruited very young brilliant engineers, geologists and other field experts who are Ghanaians being trained by ExxonMobil, a big technology transfer.

"So, we believe that at the end of it, we have made a huge investment for Ghanaians which will help our industry moving forward," he said.

GOIL offshore, a subsidiary of the GOIL group signed an exploration partnership agreement with the American Oil production giant, ExxonMobil to explore oil on the deepwater Cape Three Points.

After a few months of signing the agreement, the company has begun work on the data from the field to examine the potential of the field.

Kwame Osei Prempeh said his outfit is ready to receive positive news from the team soon after training some local engineers and geologists to support the operations.

Meanwhile, the company after ending the year with a ¢105.5 million profit declared some dividends of ¢0.045 to all shareholders.

Its growth was attributed to mining diesel, bunkering and aviation fuel.