GNPC sued over Aker Energy oil deal

The Ghana National Petroleum Corporation (GNPC) and its CEO, Dr. Kofi Koduah Sarpong has been sued for handing over a 10% stake the country had in the Deepwater Tano Cape Three Points (DWT/CTP) oil block to a Norwegian Oil Company, Aker Energy.

The plaintiffs, Humphrey Nana Yaw Essaiw and Edufa Kingsley Deladem are seeking a declaration that, granting Aker Energy’s request to “take over the 10% Explorco stake sins against the Petroleum (Exploration and Production) Act 2016 (Act 919) particularly sections 15 and 16 thereof as same was done without the approval of the Minister of Energy.”

The duo also want the court to declare that “the conduct of the GNPC CEO in giving up the 10% stake in the DWT/CTP oil block is inimical to the interest of the State and hence constitutes causing financial loss to the State.”

They, per their writ sighted by, also want “a further declaration that the conduct of the GNPC CEO in granting the request to Aker Energy to take up the 10% stake in the DWT/CTP oil block was without due process and same is illegal having been done without approval by the Minister of Energy.”

In another development, Humphrey Nana Yaw Essaiw and Edufa Kingsley Deladem in their writ want the Managing Direct of GNPC, Dr. Kofi Koduah Sarpong, to desist from occupying such position.

They claimed that Dr. K.K. Sarpong has exceeded his mandatory retirement age and must not continue to be in that position.

“A declaration that the contract appointment executed between the GNPC CEO and GNPC is illegal. A further order directing Dr. Kofi Koduah Sarpong to cease and desist from acting as the Managing Director of GNPC forthwith,” the two who described themselves as strong advocates for social accountability and the rule of law added in their writ.

Background of Aker Energy deal

In 2015, Explorco Ghana Limited, a subsidiary company of GNPC, acquired 10% interest in the DWC/CTP oil block at a time when HESS Corporation (the then operator of the DWT/CTP oil block) was offloading part of its stake in the block.

Parliament reportedly approved a budgetary allocation of $47 million for the acquisition.

The plaintiffs in their writ stated that before GNPC could conclude the processes on the acquisition of the 10% stake, there was a change in government and with it came a change in the board and management of GNPC.

They argued that the new board and management of the GNPC was expected to conclude the acquisition of the 10% stake in the block “but failed to do so without any just reason.”

“The acquisition of the 10% stake would be beneficial to the country and sits well with principles of good public financial management and that the failure of GNPC to conclude this acquisition shall occasion financial loss to the State. It is the plaintiff’s case that when the new board and management of GNPC assumed office, Aker Energy who had acquired the majority state in the HESS operated block, requested to take over the 10% Explorco stake in the DWT/CTP block, which request was granted by GNPC acting through the GNPC MD.”

The plaintiffs insisted in their writ that the said move “sins against the Petroleum Act, 2016 (Act 919)” and asked the court to overturn such decision.

Aker Energy recently announced the discovery of oil in the Pecan South-1A well in the Deepwater Tano Cape Three Points (DWT/CTP) block offshore Ghana.

Aker Energy has a 50 percent stake for which it submitted an unsuccessful $4.4 billion plan for development to the government for approval.

IMANI raises alert

Some civil society organizations including policy think tank, IMANI Africa raised concerns with the deal earlier.

IMANI Africa claimed that the country could be shortchanged by some 30 billion dollars if the contractual agreements are not reviewed; a claim that has been denied.


  • Jules

    11 July 2019, 10:10 am

    Which team do you support? cara pemakaian promescent In a letter to Russian authorities last week, Attorney General Eric Holder again requested that Russia turn Snowden over, stressing that he would not be tortured or face the death penalty if returned to the United States.\n

  • Jasmine

    11 July 2019, 10:10 am

    good material thanks ?suhagra 100 Akerson declined to say whether a $3.2-billion buyback of preferred shares from a United Auto Workers union trust announced Monday, and an upgrade to investment-grade level by a major U.S. credit rating agency, would lead to a common dividend at the company. He said GM continued on its plan to improve profitability and cash flow.\n

  • Abigail

    11 July 2019, 10:09 am

    Could you ask her to call me? methylprednisolone 16 mg adalah Palestinian youths hurled stones towards Israeli troops and settlers in Hebron, a day after a deadly attack in a refugee camp sparked anger in the West Bank and raised doubts about the prospect of renewed peace negotiations.\n

  • Sanford

    11 July 2019, 10:09 am

    Could I have , please? provestra or lyriana \"Yowell said that afterwards, in a panic, he ran to the kitchen and opened a gas jet,\" the account said. His grandmother, who also lived in the home, was killed in the blast. He was not convicted in her death.\n

  • Bertram

    11 July 2019, 10:08 am

    I\'m doing a masters in law medrol 16 mg prospecto The city, which filed the largest-ever U.S. municipalbankruptcy on Thursday, tapped high-priced lawyers from JonesDay, financial advisers from Ernst & Young and restructuringconsultants from Conway MacKenzie, court papers show.\n

  • Alberto

    11 July 2019, 10:07 am

    Do you like it here? c w medical yadkinville nc Underlining the rapid rebound, he told an audience at Northumbria University: “It is likely that the rate of the growth of the economy right now is at – and quite possibly above – the average rate in the 50 years up to the onset of the financial crisis that started in 2007... I would guess that right now we might have a rate of growth in the economy of between 2.5pc and 3.5pc.”\n

  • Scottie

    11 July 2019, 10:07 am

    How many weeks\' holiday a year are there? run everything labs joint formula review UN Secretary General Ban Ki-moon welcomed the agreement, saying he hoped operations at the zone \"would be normalised as quickly as possible and that it faces no further interruptions to its work in the future'', a UN spokesperson said.\n

  • Sanford

    11 July 2019, 10:07 am

    Stolen credit card buy generic finasteride uk Officials at FINRA, the industry-funded watchdog that oversees most broker-client arbitration disputes, has acknowledged the problem. The regulator launched efforts this week to inform arbitrators that expungement should be \"extraordinary relief.\"\n

  • Woodrow

    11 July 2019, 10:07 am

    It\'s a bad line There is no suggestion any of the techniques are illegal,and those companies which responded to requests for comment saidthey follow the tax rules in all countries where they operate.Some, including Microsoft which sells software to customersacross Europe from Dublin, said their arrangements were drivenprimarily by a desire to effectively serve customers, ratherthan tax reasons.\n

  • Gracie

    11 July 2019, 10:06 am

    I\'d like to transfer some money to this account price of cialis at walgreens NewSat\'s Ballintine and other industry players said satellite operators will more than make up for the huge upfront investments as they stand to pocket up to 80 percent of their revenues as gross profits.\n

  • Wiley

    11 July 2019, 10:06 am

    It\'s serious effexor discontinuation syndrome treatment ST. PETERSBURG, Fla. — Rookie Wil Myers helped the struggling Tampa Bay Rays get a key victory in the opener of a four-game series. Myers homered and had three RBIs, Alex Cobb pitched eight solid innings and the Rays took the lead for the first AL wild-card spot by beating the Texas Rangers 6-2 on Monday night.\n

  • Victor

    11 July 2019, 10:06 am

    Could you please repeat that? \"He was face down on the ground and he was shot in the back with a .22 revolver,\" builder Richard Rhodes told Australian broadcasters near a roadside memorial at the scene. \"I had another lady stop and we tried CPR on him. And he passed away right here.\"\n

  • Angelina

    11 July 2019, 10:06 am

    What part of do you come from? fatsecret The four-run frame capped another comeback win for the Yankees, who trailed, 4-1, in the sixth and 4-3 after seven. “I’ve said all along there’s no quit in this team and there’s a lot of character in that room,” Joe Girardi said. “They’ve fought all year long and they continue to fight.”\n

  • Nilson

    11 July 2019, 10:05 am

    What company are you calling from? green banana flour recipes vegan He neither rants nor raves, nor does he spout anti-Semitic visions of a nuclear Holocaust, and so the world really, really wants to believe Iran’s new president is a “moderate” who is ready to verifiably prove his nation has no interest in developing nukes.\n

  • Ramon

    11 July 2019, 10:04 am

    I\'ve got a part-time job walgreens old town pharmacy hours The Treasury expects to the government will hit its $16.7 trillion cap on borrowing by October 17 and would then have about $30 billion in cash as well as incoming revenue to cover its bills. Because Washington takes in only about 70 cents for every dollar it spends, the government could begin defaulting on its obligations soon after hitting the debt ceiling. Among Washington\'s many obligations, the government is scheduled to make debt payments on the 17th, 24th and 31st of this month.\n

  • Janni

    11 July 2019, 10:04 am

    this post is fantastic There are lots of forms of mental illness that can be stabilized, even cured, without locking people away. Although, personally, I wouldn\'t be opposed to a strait jacket for LaPierre. The warning signs are them. HE is a danger to society.\n

  • Titus

    11 July 2019, 09:47 am

    Yes, I love it! avis Corning, whose Gorilla Glass is widely used in Samsung\'sGalaxy devices, Nokia\'s Lumia and Google unit Motorola\'s Droid Razr, also produces ceramic substrates,optical fibers and specialty glass solutions.\n

  • Luther

    11 July 2019, 09:47 am

    Where\'s the postbox? xenical uk diet plan The best conceptual garden went to Chobham designer Catherine MacDonald of Landform Consultants Ltd, who was awarded gold and won the category with her movie-inspired exhibit which was inspired by the second installment of The Hobbit.\n

  • Lyman

    11 July 2019, 09:47 am

    It\'s OK intel pro1000pt “As I have acknowledged in the past, I am not perfect. I realize now that I have made some mistakes. I am willing to accept the consequences of those actions. This situation has taken a toll on me and my entire family, and it is has been a distraction to my teammates and the Brewers organization. . . . Finally, I wish to apologize to anyone I may have disappointed — all of the baseball fans especially those in Milwaukee, the great Brewers organization, and my teammates. I am glad to have this matter behind me once and for all, and I cannot wait to get back to the game I love.”\n

  • Kimberly

    11 July 2019, 09:46 am

    Sorry, I ran out of credit lenny larry amazon Even at $11 billion or more, the bank would be paying just a fraction of the damage it wreaked on mortgage investors, government agencies and homeowners. And a deal might ensure that no senior executives go to jail, which some experts say would let Wall Street avoid full responsibility.\n

  • Jason

    11 July 2019, 09:46 am

    I\'ve only just arrived dog has eaten apple core Also interesting are the ways the transparent tech could augment the capacity of windows. Imagine, for example, a transparent smart window that could mimic the technology found in noise-canceling headphones to cancel out the sound from the outside world. This is one example where transparency is core to the application. (The same goes for any potential uses in glasses or other heads-up displays, where transparency is also key.)\n

  • Geraldo

    11 July 2019, 09:46 am

    It\'s OK the mindful vegan reviews If implemented, the president\'s plan could mean that comprehensive college graduate earnings, advanced degrees of graduates and a more complete picture on student debt loads after graduation will be available, since the U.S. Department of Education can require schools to accurately report that data. \n

Leave a Comment

Recent Posts