Saturday, June 25, 2022

Renegotiate Aker Energy deal- Alex Mould

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Former Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Alex Mould has called on government to conduct an independent investigation into the renegotiation deal of Aker Energy and government oil exploration.

According to Mr Mould, the move has no economic benefit to the state and should be reversed.

Government last year renegotiated the deal to reduce the equity shares of Ghana and GNPC to about 15 per cent.

This move was intended to give some incentive to Aker energy before the takeover of the Deepwater Cape Three Point oil bloc from AGM Petroleum, the original company that acquired the bloc during the previous government.

It justified the decision last year to renegotiate the agreement which led to a reduction of the participating interest of GNPC from 15 percent to 3 percent as well as reducing Ghana’s interest from the original 43 percent to 18percent.

Meanwhile, from a previous 10percent to 15percent the new agreement has also increased Ghana’s free interest in the bloc.

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