{"id":612358,"date":"2019-05-02T13:36:22","date_gmt":"2019-05-02T13:36:22","guid":{"rendered":"<br><div>\n<figure class=\"fff post-thumbnail\" itemprop=\"associatedMedia\" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><img class=\"post_layout_5_img\" src=\"https:\/\/cdn.ghana-mma.com\/2019\/05\/Mutawakilu.jpg\" alt=\"Gov\u2019t must justify review of AGM Petro"},"modified":"2019-05-02T13:36:22","modified_gmt":"2019-05-02T13:36:22","slug":"govt-must-justify-review-of-agm-petroleum-deal","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/05\/02\/govt-must-justify-review-of-agm-petroleum-deal\/","title":{"rendered":"Gov&#8217;t must justify review of AGM Petroleum deal"},"content":{"rendered":"<p><\/p>\n<div>\n<figure class=\"fff post-thumbnail\" itemprop=\"associatedMedia\" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><img decoding=\"async\" class=\"post_layout_5_img\" src=\"https:\/\/cdn.ghanamma.com\/2019\/05\/Mutawakilu.jpg\" alt=\"Gov\u2019t must justify review of AGM Petroleum deal \u2013 Minority\"\/><\/figure>\n<div class=\"mom-ads-wrap  \">\n<div class=\"mom-ads ads-layout-rotator ads-rotator-id-341\" style=\"width:728px; height:90px;\">\n<div class=\"mom-ads-inner\">\n<div class=\"mom-ad\" data-id=\"1236\" style=\"width:728px; height:90px; \">\n<img loading=\"lazy\" decoding=\"async\" class=\"appear\" src=\"https:\/\/cdn.ghanamma.com\/2019\/04\/Say-yes-to-ads-Banner-728-X-90.jpg\" alt=\"Right Below Featured Image\" width=\"728\" height=\"90\"\/>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The Minority in Parliament is demanding justification from government over the proposal to reduce government\u2019s stake from 43 to 18 percent in the AGM Petroleum agreement.<\/p>\n<p>The call follows the laying of an amendment in Parliament to a petroleum agreement between government and AGM Petroleum over the Deep water Tano Contract Area.<\/p>\n<p>According to a letter sighted by <strong>Citi News<\/strong>, a similar proposal for a review to this agreement was rejected by Former Energy Minister, Boakye Agyarko but the amendment was laid in the house on Monday.<\/p>\n<p>Ahead of a crucial meeting this afternoon by the Joint Mines and Energy and Finance Committee, Ranking Member for the Mines and Energy Committee, Adam Mutawakilu said the nation will lose billions of dollars in potential revenue if the amendment is not rejected.<\/p>\n<p>\u201cGNPC has already acquired 3D size data on this bloc and paid $30 million for this data and you are giving it free. Reducing the term instead of it helping us boost the terms.<\/p>\n<p>\u201cWe think that President Nana Akufo-Addo is on an agenda to rob Ghana so we Ghanaians must stand up against the move by President Nana Akufo Addo to deny us billions of dollars potentially. We the Minority are waiting for the Minister to come and convince us.\u201d<\/p>\n<p>Parliament ratified the agreement in 2013.<\/p>\n<p>The ratification grants the two parties the exclusive right and authority to carry out all petroleum exploration, development and production activities in the South Deepwater Tano Block (SDWT).<\/p>\n<p>The ratification followed the approval of the Petroleum Agreement by Cabinet of and a review by the Parliamentary Select Committee on Mines, Energy and Petroleum.<\/p>\n<p>The 3,482 km2 SDWT Block is located in deep to ultra-deep water part of the Tano basin, with water depth ranging from 2,000m to about 3,500m.<\/p>\n<p>It is in close proximity to the Hess-operated Deepwater Tano \u2013 Cape Three Points block, where seven discoveries were made, and the Vanco\/Lukoil Deepwater Cape Three Points block.<\/p>\n<p>The agreement incorporates a significant commercial interest accruing to GNPC, through its subsidiary, Exploration and Production Company Limited (Explorco).<\/p>\n<p>The agreement gives Ghana through GNPC a stronger position in exploration and production activities than the country has held in past oil and gas agreements.<\/p>\n<p><span class=\"ctx-article-root\"\/>  <\/p>\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Minority in Parliament is demanding justification from government over the proposal to reduce government\u2019s stake from 43 to 18 percent in the AGM Petroleum agreement. The call follows the laying of an amendment in Parliament to a petroleum agreement between government and AGM Petroleum over the Deep water Tano Contract Area. According to a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":612359,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-612358","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gov&#039;t must justify review of AGM Petroleum deal - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/05\/02\/govt-must-justify-review-of-agm-petroleum-deal\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Gov&#039;t must justify review of AGM Petroleum deal - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"The Minority in Parliament is demanding justification from government over the proposal to reduce government\u2019s stake from 43 to 18 percent in the AGM Petroleum agreement. The call follows the laying of an amendment in Parliament to a petroleum agreement between government and AGM Petroleum over the Deep water Tano Contract Area. According to a [&hellip;]\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/05\\\/02\\\/govt-must-justify-review-of-agm-petroleum-deal\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/05\\\/02\\\/govt-must-justify-review-of-agm-petroleum-deal\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"Gov&#8217;t must justify review of AGM Petroleum deal\",\"datePublished\":\"2019-05-02T13:36:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/05\\\/02\\\/govt-must-justify-review-of-agm-petroleum-deal\\\/\"},\"wordCount\":373,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/05\\\/02\\\/govt-must-justify-review-of-agm-petroleum-deal\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/05\\\/02\\\/govt-must-justify-review-of-agm-petroleum-deal\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/05\\\/02\\\/govt-must-justify-review-of-agm-petroleum-deal\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/05\\\/02\\\/govt-must-justify-review-of-agm-petroleum-deal\\\/\",\"name\":\"Gov't must justify review of AGM Petroleum deal - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/05\\\/02\\\/govt-must-justify-review-of-agm-petroleum-deal\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/05\\\/02\\\/govt-must-justify-review-of-agm-petroleum-deal\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2019-05-02T13:36:22+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/05\\\/02\\\/govt-must-justify-review-of-agm-petroleum-deal\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/05\\\/02\\\/govt-must-justify-review-of-agm-petroleum-deal\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gov't must justify review of AGM Petroleum deal - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2019\/05\/02\/govt-must-justify-review-of-agm-petroleum-deal\/","twitter_card":"summary_large_image","twitter_title":"Gov't must justify review of AGM Petroleum deal - Ghanamma.com","twitter_description":"The Minority in Parliament is demanding justification from government over the proposal to reduce government\u2019s stake from 43 to 18 percent in the AGM Petroleum agreement. 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