Ghana-based civil society group, Progressive Alliance of Ghana (PAG), has expressed serious concerns over the extension of Jubilee and TEN Oil Fields licences for Tullow Ghana Limited and Kosmos Energy by the Government of Ghana.
According to the Founder of PAG, Dr. Kpikpi, the deal is very bad for the country, for which reason it must be reversed immediately in the interest of national sovereignty, economic justice, and transparency.
The agreement extends the licences for the Jubilee and TEN Oil Fields to 2040, and it includes the drilling of up to 20 new wells and an estimated $2 billion in investment.
However, Dr. Kpikpi believes that the deal disproportionately benefits foreign partners, undermines local value retention, and limits future renegotiation opportunities.
“Who truly benefits from this deal?” he asked.
The PAG founder highlighted several key concerns with the deal, including lack of transparency in the negotiation process, and potential long-term revenue loss for Ghana.
He called on Parliament to reject any plan to validate the extension.
Dr. Kpikpi further called on civil society, the media, and patriotic citizens to demand accountability, emphasising that the issue is not just economic but also a matter of sovereignty and stewardship of Ghana’s natural resources.
“Ghana’s oil wealth belongs to its people — not to foreign multinationals and their local enablers,” he stressed.
Source: https://energynewsafrica.com
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