MP for Sekondi Calls for Transparency in Oil Exploration Contracts

The MP for Sekondi, Paapa Owusu Ankomah has advocated the setting up of a new regime for the award of contracts for future oil exploration. 

He says there is little transparency surrounding the allocation of blocks for oil explorers as things stand now. He said its high time government expedites action in putting structures in place so that future blocks can be bide for.

The Minister of Energy and Petroleum, Emmanuel Armah Kofi Buah while welcoming the idea said under the current dispensation, the country has many laws that regulate the contracting of the oil fields. He says rigorous processes are undertaken by the Ministry before such contracts are even brought to Parliament. 

He said at the end of the day, government is working at equipping the GNPC to a position where it can carry out explorations on its own.

Meanwhile, Parliament has ratified the petroleum agreement between Government, the GNPC and the Sahara Energy Fields Ghana Limited on the shallow water Cape three points offshore block. 

Also approved is another agreement between government, GNPC, Exploration and Production Limited, A to Z Petroleum Products Ghana Limited and Eco Atlantic Oil and Gas Ghana Limited. 

This agreement covers the exploration and development of the South West Cape Three Points offshore Block.

GBC