The sports category has moved to a new website.

Ghana risks losing $30bn in oil find by Aker Energy, according to IMANI

A policy think tank, IMANI Africa, has disclosed that the Ghanaian government risks losing $30 billion in the recent oil find by Aker Energy Ghana Limited.

Vice-President of IMANI Africa, Kofi Bentil,

According to IMANI Africa, Aker’s current exploration activities are illegal since they discovered the oil after the company’s exploration licence had expired in 2014 and have failed to go through the right processes.

IMANI believes the Pecan X and Pecan Y in the Deepwater Tano Cape Three Points block (DWT/CTP) are essentially not covered by any of the Petroleum Agreements (PA) in force, hence those additional finds require a new Petroleum Agreement to be negotiated under the Petroleum (Exploration and Production) Act, 2016 Act 919.

Speaking at a press conference in Accra, the Vice-President of IMANI Africa, Kofi Bentil, asked why the government has not taken action to secure what is due to the country.

“Those two blocks are controlled and owned by Aker. So, it is a curious trend that if it comes to that we don’t seem to pursue our rights and to get the most from our oil.”

ADVERTISEMENT

Aker’s find is about 450-550 million barrels, with potential recoverable reserves of nearly one billion barrels, a discovery touted as the biggest in the oil sector in Africa.

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

10 African cities with the highest crime index at the start of 2024

10 African cities with the highest crime index at the start of 2024

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Details of Ngina Kenyatta's luxurious restaurant

Details of Ngina Kenyatta's luxurious restaurant

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

10 African countries with the strongest military power in 2024

10 African countries with the strongest military power in 2024

ADVERTISEMENT