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Ghana’s energy minister says government
supports GNPC’s plan to acquire stakes
GHANA GHANA’S government fully supports Ghana to Tullow Oil (UK/Ireland), he said.
National Petroleum Corp. (GNPC) in its effort “I do know there is the intention to go into
to secure stakes in key offshore oil and gas fields, Aker Energy. There is an intention to go into
Energy Minister Matthew Opoku Prempeh said AGM. There is an intention to go into Spring-
earlier this week. field, and there is also an intention to go into the
Speaking during a ceremony marking the Jubilee field and the TEN fields to acquire not
swearing-in of GNPC’s new board of directors, only significant or more shares but more expe-
Prempeh noted that the government backed rience in the exploration agenda of GNPC,” he
GNPC’s plan to borrow more than $1bn to pur- said.
chase a 37% stake in Deep Water Tano/Cape Prempeh did not say how much GNPC might
Three Points (DWT/CTP), a block assigned to be willing to pay for stakes in the other projects.
Aker Energy (Norway), and a 70% stake in the Ghana’s government has asked Parliament
Pecan oilfield, a block assigned to the Ghana- to authorise its plan to borrow at least $1.45bn
ian company AGM Energy, on behalf of its off- on GNPC’s behalf for the purchase of stakes in
shore arm EXPLORCO. “The government is DWT/CTP and Pecan. Officials in Accra hope
going to support you 100% in this direction of the acquisitions will benefit the domestic oil and
local content and the promotion of our petro- gas industry by giving GNPC and EXPLORCO
leum resources in the acquisition of shares,” he a chance to act as operator of major upstream
declared. development projects. They have also pointed
He also indicated that GNPC was eyeing out that the offshore projects will support the
stakes in other offshore projects. The national implementation of the Ghana Beyond Aid
oil company (NOC) is also looking to acquire an agenda, which calls for developing the country’s
interest in fields assigned to Springfield Energy, oil resources in order to create new jobs and gen-
a local company, as well as the Jubilee and Twen- erate billions of dollars in budget revenues over
eboa-Enyenre-Ntomme (TEN) blocks assigned the next 15 years.
P6 www. NEWSBASE .com Week 35 02•September•2021
