Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

ACEP challenged Government to explain budget for 2010 jubilee fields toxic spillage

kosmos

Africa Centre for Energy Policy (ACEP) has asked government to tell Ghanaians the exact amount paid by Kosmos Energy over the spillage of toxic mud off the Jubilee fields in 2010.

Kosmos was also fined by government for disclosing data on the Jubilee oil field without the government’s consent.

Although the oil and gas company was fined a total of $35 million over the two disputes government announced Kosmos paid $15 million.

However documents provided by Kosmos Energy to the US Securities and Exchange Commission indicate that it paid a total of $23 million Dollars to Ghana government.

ACEP wants explanations from government the Ghana National Petroleum Corporation (GNPC) on the discrepancy in the two figures.

Chief Executive Director of ACEP, Mohammed Amin Adam said “contrary to government announcement that the $15 million was for both the data and spill disputes, the payment was indeed one of the disputes and not for the two disputes”.

He also expressed concern about the lack of transparency in the disclosure of contracts awarded to oil companies operating in the Jubilee Fields.

According to Dr Adam, the lack of transparency in awarding contracts is a potential source of corruption which must be addressed in the new Petroleum Exploration Bill.

“The citizens of Ghana are the primary owners of the oil and gas resources with has been entrusted in the President [John Mahama] to manage on their behalf”, he said.

ACEP  also wants government to investigate some other cases which are currently under investigation in the US and South Africa, relating to Ghana ‘s petroleum sector.

Africa Centre for Energy Policy (ACEP) has asked government to tell Ghanaians the exact amount paid by Kosmos Energy over the spillage of toxic mud off the Jubilee fields in 2010.

Kosmos was also fined by government for disclosing data on the Jubilee oil field without the government’s consent.

Although the oil and gas company was fined a total of $35 million over the two disputes government announced Kosmos paid $15 million.

However documents provided by Kosmos Energy to the US Securities and Exchange Commission indicate that it paid a total of $23 million Dollars to Ghana government.

ACEP wants explanations from government the Ghana National Petroleum Corporation (GNPC) on the discrepancy in the two figures.

Chief Executive Director of ACEP, Mohammed Amin Adam said “contrary to government announcement that the $15 million was for both the data and spill disputes, the payment was indeed one of the disputes and not for the two disputes”.

He also expressed concern about the lack of transparency in the disclosure of contracts awarded to oil companies operating in the Jubilee Fields.

According to Dr Adam, the lack of transparency in awarding contracts is a potential source of corruption which must be addressed in the new Petroleum Exploration Bill.

“The citizens of Ghana are the primary owners of the oil and gas resources with has been entrusted in the President [John Mahama] to manage on their behalf”, he said.

ACEP  also wants government to investigate some other cases which are currently under investigation in the US and South Africa, relating to Ghana ‘s petroleum sector.

Source: Myjoyonline

Profile photo of Editor
Follow Us

Editor

Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
Profile photo of Editor
Follow Us

Share this article

Leave a reply

Personality of the Month
  • Prof. Thomas Mba Akabzaa Chief Director of Ministry of Petroleum          …
Follow Us Online
Join the Discussions

Summary: Revenue mobilization from the oil sector for Agricultural production in Ghana, a myth or reality?

Agriculture, once considered the backbone of Ghana’s economy recorded a reduction of its contribution to GDP from 45% in 1992…

Responses Add your response


About Us
Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
Events Calendar
<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
Twitter Activity Stream
 

Partners We are proud to be associated with:

Skip to toolbar