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Minister of Energy, Matthew Opoku Prempeh, has fired salvoes at the Minority in Parliament about their claim of a possible $7 billion judgement debt against Ghana over an impasse between ENI\/Vitol and Springfield Ghana.<\/p>\n
The Minority reportedly says a directive by former Minister of Energy, John Peter Amewu, instructing the two parties to execute a Unitisation and Unit Operating Agreement (UUOA) at the Sankofa and Afina fields has been challenged by ENI\/Vitol stating that it’s a premature decision and\u00a0didn’t meet industry standards.<\/p>\n
A legal tussle subsequently ensued, with ENI\/Vitol eventually initiating action in the International Court of Arbitration for $7 billion against the Government of Ghana.<\/p>\n
A publication by the Insight newspaper stated that the Minority, in a statement signed by John Jinapor, Ranking Member on Mine’s and Energy Committee of Parliament, said the impasse has led to an impending legal battle between the ENI\/Vitol and the Government of Ghana.<\/p>\n
“We are also aware that ENI\/Vitol has commenced legal action in the International Court of Arbitration seeking damages of about $7 billion against the Government of Ghana . . . Indeed, since assuming office in 2017, the Akufo-Addo\/Bawumia-led Government has not successfully executed a single block agreement, neither has any new oil field been brought into production,”<\/em>\u00a0the statement read.<\/p>\n Speaking in a one-on-one interview on\u00a0Peace FM’s\u00a0<\/strong>“Kokrokoo” morning show, the Energy Minister gave full details of the impasse\u00a0between ENI\/Vitol and Springfield Ghana.<\/p>\n Listen to him in the video below<\/strong><\/p>\n