Development Projects – Aker Energ
Development Projects – Aker Energ

Government of Ghana has deferred the approval for the Plan of Development Presented (PoD) by Aker Energy of Norway for the development of the Pecan field, Minister for Energy John Peter Amewu disclosed here on Friday.

Aker acquired the Pecan field from AMERADA Hess last year after taking over Hess’s global assets.

Amewu attributed the decision to technical advice from the Petroleum Commission which had observed some unacceptable proposals in the PoD.

A company which discovers oil in Ghana requires an approved PoD from government to be able to develop and produce on the field.

“Based on a thorough study and review of the Aker Energy’s PoD, the Commission came to a conclusion that Aker Energy’s PoD cannot be approved in its present form. That Aker Energy must be made to review the PoD to comply with the necessary provisions of the law,” he disclosed.

After considering the recommendation of the Petroleum Commission, Amewu said he had wrote to the Norwegian firm on Tuesday communicating the decision of the government to them, directing them to review the PoD based on the reasons which were attached to the letter.

Stakeholders expressed fears here on Thursday that in its current form, the PoD sought to short-change the country.

Senior Vice President of IMANI Ghana, Kofi Bentil therefore questioned the reason the Minister was delaying to communicate his final decision to Aker about the unacceptability of the PoD.

“In fact, Aker Energy, having inherited the well from Hess at a time the exploration period had ended, was not permitted by law to continue any exploratory activities. The law demands a new Petroleum Agreement over such new discoveries,” Bentil pointed out.

Speaking to Xinhua, former Chief Executive Officer (CEO) of GNPC Alex Mould was of the view that the IOC should respect the rules of engagement.

Mould urged the government to go ahead and acquire the 49 percent of the field as approved by parliament; “GNPC has the money and can pay for it.”

Meanwhile parliament’s minority also expressed fears on Thursday that the West African country stood to lose at least 7.2 billion US Dollars in the new discoveries announced by the if a new agreement was not signed to cover that.

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