President Akufo-Addo has urged officials of Exxon Mobil, the latest international oil company to invest in Ghana, to bring their expertise and best practices to bear in Ghana to help develop the country’s energy sector.
Speaking at a brief meeting between executives of Exxon Mobil and Government held at the Flag Staff House, President Akufo-Addo said he will ensure that Ghana remains a faithful partner to the agreement that has been signed in order secure Ghana’s interest. The President equally called on Exxon Mobil to also ensure that they respect, keep and guard their side of the contract.
Competence of Ghanaian Officials
President Akufo Addo observed that the group of Ghanaian officials were and still are at the forefront of the negotiations are competent and very much at home with all the details of the oil industry. He indicated that now that the paper work was over, he looked forward to seeing people on the ground working to make the Exxon investment in Ghana a success.
President Akufo Addo said the nature of the agreement reached between Ghana and Exxon requires parliamentary assent to the ratification. To that end, the President indicated that government will present the agreement promptly to Parliament when the house resumes on the 23rd of January, 2018. The President urged the Speaker of Parliament and Members of the House of Parliament to do justice to the agreement in order for Exxon Mobil to begin it’s operations lawfully.
Signing of MOU and Agreement
Exxon Mobil signed a Memorandum of Understanding with Ghana in 2015 to assess its Deepwater Cape Three Point (DCTP) region, 150 km (100 miles) off the coast with water depth ranging between 2,000 and 4,000 metres (6,500 and 13,000 feet). Today, officials of both parties (Exxon Mobil and Government of Ghana) completed the agreement processes by signing the contract to complete all the oil exploration agreement between Ghana and Exxon Mobil.
The Vice President of the Exxon Mobil for Africa, Pamela Darwin, assured the President that her outfit will do all it takes to ensure that it’s oil exploration mission is successful and mutually beneficial to both parties of the agreement.