A Commercial High Court in Accra, capital of Ghana, has ordered ENI Ghana Limited and its partner, Vitol Upstream Ghana Limited, the operator of the Sankofa Oil Field, to immediately pay 30 per cent of revenue realised from the sale of crude oil from the aforementioned field to the court registrar.
The court presided over by Justice Mariama Sammo, gave the directive last Monday, January 24, 2022.
This followed an application by Springfield Exploration and Production Limited, Operators of West Cape Three Points (WCTP) Block 2, for the court’s clear interpretation of its ruling last year.
Eni and its partner are supposed to US$40 monthly effective June 2021 until the court determined a substantive matter between them and Springfield E&P, a wholly-owned Ghanaian upstream player.
Upon receipt of the payment, the registrar would then pay the same into an escrow account and furnish the court and the parties with payment records.
https://www.purc.com.gh/
Springfield’s application was precipitated by ENI and Vitol’s failure to comply with the ruling of June 25, 2021.
On June 25, 2021, the court ruled in favour of SEP’s application to freeze revenues from Eni and Vitol from the sale of crude oil from the Sankofa field, pending determination of their substantive case filed in July 2020.
The companies have been in dispute since an April 2020 directive was issued by the Energy Ministry to unitise the Afina and Sankofa fields to ensure optimal recovery of the resources in the common reservoir in the interest of all the parties involved, including the state.
Source: https://energynewsafrica.com
