Energy Minister, John-Peter Amewu
The Ministry of Energy is expected to hold a press conference tomorrow, Friday, 26th April, 2019, to respond to claims by IMANI-Ghana that the country would lose a colossal US$30 billion oil find to Norwegian oil firm Aker Energy, if government fails to act quickly.
The presser is intended to respond to IMANI Ghana’s threat of going to court, should government fail to respond to a letter it sent to the sector Ministry, seeking clarity over the Aker Energy petroleum agreement.
Early this year, Aker Energy announced the discovery of oil in the Pecan South-1A well in the Deepwater Tano Cape Three Points (DWT/CTP) block offshore Ghana.
The find, which is touted as the biggest oil find in Africa, is estimated at 450 million to 550 million barrels.
But speaking at a forum in Accra Thursday, 25th April, 2019, Vice President of IMANI-Ghana, Kofi Bentil argued strongly that the find being claimed by Aker Energy is without a legal basis.
Aker Energy acquired the 51% stake in an earlier well in the area found by another Norwegian company, Hess Oil.
Hess Oil operated under a Petroleum Agreement with the Government of Ghana signed in 2006, which granted the company seven years within which to undertake oil exploration in a given area, the Contract Area.
This Exploration Period ended in 2013.
Kofi Bentil argued by the laws governing oil exploration and production in Ghana that, any oil find made outside of the exploration period could not be claimed by the company that found it, saying, “It belongs to the state.”
He said, Aker Energy, after having inherited the well from Hess Oil at a time the exploration period had ended, was not permitted by law to continue any exploratory activities.
He warned that IMANI Ghana would be compelled to go to court to seek clarity on the matter if government failed.