$30bn Aker oil find: Ghana stands to gain – Gabby
“It will be curious to know how IMANI came about that figure. It looks as if they simply multiplied the estimated 450-550m barrels in the Pecan 4A field by $65 per barrel! Truth is so far, the estimated average recoverable rate of oil in Ghana has been well below 28%! They should come again. What is beyond dispute is that Ghana stands to gain between 55-60% of net oil produced from the Aker block throughout the life of the field,” the high-ranking member of the governing New Patriotic Party (NPP) and relative to President Nana Akufo-Addo stated in a Facebook post on Friday, 26 April 2019.
IMANI Africa said at a press conference on Thursday, 25 April 2019 that Aker discovered the oil after its exploration licence had expired in 2014 and failed to go through the right processes, thereby making their exploration activities illegal.
IMANI said the Pecan X and Pecan Y wells in the Deepwater Tano Cape Three Points block (DWT/CTP) are essentially not covered by any of the Petroleum Agreements (PA) in force, hence those additional finds require a new Petroleum Agreement to be negotiated under the Petroleum (Exploration and Production) Act, 2016 Act 919.
Vice-President of IMANI Africa, Mr Kofi Bentil, questioned why the government had not taken action to secure what is due the country.
In Mr Otchere-Darko’s view: “Whatever is being done by this government, Ghanaians should be confident that Akufo-Addo will ensure that we realise assets which were not producing and from all proper understanding, Ghana stands to gain far more than what we stood to gain, if any, just two years ago. The plan is to develop a petroleum industry not just to take a small share of our own oil stuck under the sea”.
Source: Ghana/ClassFMonline.com/91.3FM
Source: David Apinga
Trending News
Clear indication defeat staring NPP in the face - NDC
10:58NPP sets up disability secretariat
02:46Bawumia jets to Italy for bilateral discussions with Pope
13:14Train crash: I'd be asking some serious questions were I president – Mahama
07:02Asantehene commends Matthew Opoku Prempeh for conceiving GENSER Kumasi Pipeline Project
01:37Dumsor must stop demo part 2: We’ll choose how we demonstrate and who to partner – Franklin Cudjoe replies Yvonne Nelson
10:17Struggle for next NDC leader'll make Mahama gov't lose focus if he wins 2024 polls - Afenyo-Markin says Bawumia 'better' option
14:16Naana Jane embodies authority and authenticity - Joyce Bawah insists
12:58Train crash man jailed six months
13:36Jobless teachers threaten street demonstrations
11:57