The Institute for Energy Security (IES), an energy think tank in the Republic of Ghana, has described as shocking and disappointing the inability of Springfield E&P and Eni Ghana Exploration & Production Limited to implement a directive of the government to unitise the Afina discovery and the Sankofa Field at the country’s oil fields in the Western part of the country.
The two entities were directed by the country’s former Energy Minister, John Peter Amewu, about year ago to execute a Unitisation and Unit Operating Agreement (UUOA) with respect to the Afina discovery in the West Cape Three Points (WCTP2) and the Sankofa Field in the Offshore Cape Three Points contract areas.
However, barely a year after the directive was issued, IES says information available to them indicate that ENI and Springfield E&P are yet to execute the UUOA, which it says among other things, would lead to maximum economic benefits for the country and for the parties involved in the production of the unitised accumulation.
Making reference to section 34(1) of the Petroleum (Exploration and Production) Act 2016 (2019) and citing similar principles of international practices, the IES noted that the delay in unitising the OCTP and WCTP-2 is a loss of opportunity for the country to reap maximum benefits from the economic incentives associated with unitisation of oil and gas fields.
The energy think tank called on the government to update the country on the progress so far made on its unitisation directive to Springfield and Eni, as part of its accountability on the country’s petroleum resource management to the citizens of the country.
Meanwhile, information available to energynewsafrica.com indicates that one of the parties involved has been dragging its feet in the whole process hence the delay.
Source: www.energynewsafrica.com
