Between 2013 to 2016: $95m spent without drilling a single oil well – Deputy Minister

• Posted on April 29, 2019April 29, 2019
• by Nana Kwesi Coomson
• Comment

The Energy Ministry says none of the 13 petroleum contracts signed between 2013 and 2016 for oil exploration was operationalized.

The Ministry says the said companies which were contracted by the former government to drill 14 wells spent only $95 million instead of the $890million they were supposed to have spent as stated in the contract.

Deputy Minister for Energy, Dr. Mohammed Amin Adam said this at a press conference to respond to claims by Policy Think Tank IMANI Africa that Petroleum company, Aker Energy is engaged in illegal operations.

“The contracts that have led to discoveries in Ghana were the ones signed under J. A Kufuor. Thirteen contracts were signed under our opponents, the highest contracts ever signed under any government in Ghana.”

Dr Amin Adam further said that government has decided to pursue aggressive exploration to increase the country’s oil reserves and production.

Meanwhile, government has debunked assertions by IMANI Africa that Ghana will lose some 30 billion dollars if the Petroleum Agreement between government and Aker Energy is not renegotiated.

At a press conference last week, IMANI said its checks had revealed that Aker Energy was exploring oil in wells not captured in the Petroleum Agreement it has with government describing the move as illegal.

It, therefore, asked the government to review the contract to ensure that Ghanaians receive what is due them.

However, Energy Minister John Peter Amewu said IMANI’s statements cannot be substantiated.

He said Ghana rather stands to benefit from the advanced technology AKER Energy is using for its operations.

On his part Chief Executive of the Petroleum Commission, Egbert Faibille said his outfit has not approved the Plan of Development for AKER Energy as claimed by IMANI.

-Citi