Ghana stands losing even more than $15bn stated by Imani Africa at their press briefing yesterday if government does not heed to the concerns raised by Imani Africa and all other industry players in respect to government’s dealings with Iker Energy Ghana. This is according to Mr. Paa Kwesi Anamuah Sekyi, Executive Director of the Institute for Energy Security.
Earlier this year, Aker Energy Ghana, the local unit of the Norwegian company which acquired oil fields from Hess Ghana, announced that it has discovered the biggest oil find in Africa – of 450 to 550 barrels of oil. Aker has since then, gone ahead with all other procedures and last month, submitted a Plan of Development to the government of Ghana.
In an interview on ‘ADEKYEE MU NSEM’, Ahotor FM’s morning show hosted by Citizen Kofi, Mr. Kwesi Anamuah said, Aker does not have the legal rights to do exploration and go on to find oil but rather, do appraisal of the existing wells that they acquired from Hess Ghana. It is fascinating to hear Aker announce their findings and submit a Plan of Development to the government of Ghana when they [Aker Energy Ghana] do not even have the right to do exploration in the fields they acquired or anywhere in Ghana, he added.
Hess Ghana per the Petroleum Agreement (PA) signed between Government of Ghana and GNPC on one part and them [Hess Ghana] on the other side in 2006, got 7 years exploratory license. The exploratory license gave them the legitimate rights to find oil for a limited period of 7 years. After which they drill appraisal wells to determine the quantity of oil. The development level is where the necessary arrangements, technology, pipelines (also known as Christmas tree) and machinery are put in place to drill the oil.
Aker Energy Ghana assumed full assets of Hess in 2018. They acquired the Deepwater Tano Cape Three Points (DWT/CTP) block which had the following wells; Almond-1, Almond-2A, Anobra-1, Beech-1, Cob-1, Hickory North, Paradise-1, Pecan-1, Pecan-2A, Pecan-3A, and Pecan North-1 (PN-1). This was after the exploratory license which was granted Hess had expired in 2013. This means that Hess and or any other company that acquires its assets had no right to do exploration after 2013. It is intriguing how a company that acquired the assets of Hess in 2018 went ahead to do exploration and announced discovery of oil earlier this year.
The new discoveries ought to be negotiated under a new PA and as it stands now, government owns the oil find unless government approves the development plan submitted by Aker, according to Mr, Kwesi Anuamah. Aker has however submitted a development plan to the government since last month and its 30-day waiting for approval will elapsed by close of day today, Friday, April 26, 2019.
The company can however, go ahead to drill oil if government does not respond to the development plan submitted to it in accordance with the law.
By Alfred Kwaku Mawuenam|Ahotoronline.com
