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


News in Brief

MP questions signing of Exxon Mobil agreement at hotel

  • SOURCE: 3News | qwesa2big
  • The Member of Parliament for Builsa South Constituency in the Upper East Region, Dr Clement Apaak, has expressed wonder how a petroleum agreement can be signed in a hotel.

    He was apparently alluding to the Exxon Mobil deal agreed and signed by the Minister of Energy, Boakye Agyarko, on behalf of government, on Thursday.

    The venue was the Kempiski Hotel in Accra and the deal was completed between 8:00am and 11:00am.

    “I am still wondering why the signing had to be done at the Kempiski Hotel and took three hours,” the National Democratic Congress (NDC) MP said on TV3’s New Day on Saturday.

    He said the agreement could have been done at the Flagstaff House or the Ministry of Energy to save any costs that may have been incurred.

    “When we had to protect the public purse, all these count.”

    The deal with the American company is the first since the landmark verdict of the International Tribunal of the Law of the Sea (ITLOS) last year.

    Exxon Mobil, by the agreement, will acquire exploration and production rights for the Deepwater Cape Three Points (DWCTP).

    While the foreign firm will hold 80 per cent of interests, as per the deal, the Ghana National Petroleum Corporation (GNPC) will hold 15 per cent.

    A local company is expected to hold the remaining five per cent.

    Despite lauding the deal, Dr Apaak said more opportunities must be given to local firms in the oil exploratory sector.

    Leave a reply

    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
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar