Amewu warns prospective oil block bidders against malpractices

Business News of Thursday, 18 October 2018

Source: Michael Creg Afful

2018-10-18

John-Peter Amewu, Minister for Energy

The Minister for Energy, John-Peter Amewu has issued a stern warning to companies which will be participating in the bidding process for the six oil blocks to desist from presenting false information or documents else they will be disqualified.

According to him, government wants to ensure fairness and transparency in the bidding process and therefore will not countenance on any wrong doing.

“I would like to warn that companies that submit false information or will attempt to manipulate the process to their advantage will be disqualified,” he said

President Nana Addo Dankwa Akufo-Addo on Monday launched Ghana’s first-ever oil and gas licensing rounds bid evaluation and negotiation (LRBEN), with a warning to dormant investors in the oil sector that their agreements risked being terminated.

Nine oil blocks have so far been mapped out but only three blocks would be allocated through the open competitive tender.

Two would be given through direct negotiations, while one would be reserved for the national oil company, GNPC.

GNPC is expected to explore its block in partnership with a chosen strategic partner with the view to develop its technical capacity to become an operator.

This brings us to six oil blocks to be given out in the first licensing round of bidding.

The other three are expected to be auctioned in the second round at a date yet to be fixed.

Speaking at the launch, Energy Minister John-Peter Amewu made a special appeal to indigenous Ghanaian companies in the oil and gas sector to take advantage of the process by forming partnerships and bidding for the oil blocks.

He explained that government had placed premium on the existence of the local content regulations, and therefore expects Ghanaian participation in the bidding process to be higher.

” I will like to make a special call to these indigenous Ghanaian companies to come onboard..take advantage of the several opportunities in the upstream sector as this government has placed premium on Ghana content and Ghanaian participations in our natural resources.”

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