• Latest
  • Trending
  • All
KK sapong and Kobby

AKER-GNPC deal is smart stealing – Onassis Kobby alleges

September 6, 2021
Senco Developers

Top Building Construction companies in Ghana

January 31, 2023

NDC New Jersey charged to double up efforts towards winning power in 2024

January 30, 2023

GES Looking & Leapfrogging Into Menace and Mess – The Non-Operational Externality

January 29, 2023

Invest in our Property Development Projects in Ghana

January 29, 2023

Police arrest four suspects for robbery and murder at Wassa Agona

January 29, 2023

Ablekuma Central MP Donates Food Items Towards 2023 Greater Accra Maulid

January 28, 2023
Image credit: Daily Graphic

FDA investigates and suspends Yellow Sisi operation

January 28, 2023
The suspect

Police arrest one person in connection with murder and violent disturbances in the Ashanti region

January 27, 2023
Image credit: Daily Graphic

Waakye Kills 5: Suspected food poisoning, 40 others affected

January 27, 2023

GAF embarks on measures to deal with unauthorised use of military regalia

January 27, 2023
Ken Ofori-Atta - Finance Minister

Government reaches agreement with Ghana Insurers Association on DDEP

January 27, 2023

Pre-tertiary unions express disappointment over default in GESOPS payment

January 27, 2023

DCFO Gibril bows out of service after over 3 decades

January 27, 2023
Image credit: Shutterstock.com

GES commiserates with family of drowned pupils

January 27, 2023
President Akufo-Addo

Akufo-Addo appoints new Chief of Air Staff

January 27, 2023

75 BECE 2022 Candidates’ Entire Results Cancelled By WAEC.

January 26, 2023
Cassiel Ato Forson

I feel honoured and humble… – Dr Forson

January 26, 2023

WAEC releases 2022 BECE results

January 25, 2023
Dr Cassiel Ato Forson

60 NDC MPs reject change in leadership

January 25, 2023

640 nationwide fire recorded from Jan. 1 to Jan. 23

January 25, 2023

A profitable water factory for sale at Sunyani

January 25, 2023
ndc

NDC make massive change in Parliamentary leadership

January 24, 2023
Kissi Agyebeng - Special Prosecutor

OSP charges Northern Development Authority CEO and his deputies

January 24, 2023
Image credit: Shutterstock.com

GWCL resorts to Water Demand Management to ensure equitable distribution of the water

January 24, 2023
Ken Ofori-Atta - Finance Minister

Government reaches agreement with banks on new terms for debt exchange program

January 24, 2023
  • All News
  • About Us
  • Advertise
  • AMN Research
  • My Story
  • Vovoli TV
Tuesday, January 31, 2023
  • Login
Awake News
Advertisement
  • News
    • Crime
    • Peace & Security
    • Diaspora
    • Press Release
    • Photos
    • Videos
    • Religion
  • Business
    • Agriculture
    • Finance
    • Energy
    • Telecom
    • Economy
    • Travel
    • Mining
    • Oil & Gas
    • Tourism & Hospitality
    • Real Estate
    • Transport
  • Politics
    • Awake Election Watch
    • NDC News
    • NPP News
    • CPP News
    • Opinion Polls
    • Elections
    • Flagbearers
  • Education
  • Health
  • ShowBiz
    • Celebrities
    • Concert
    • Fashion
    • Music
    • Lifestyle
  • Sports
    • Football
    • African Football
    • European Football
    • Basketball
    • Athletics
    • Boxing
    • Disability Sports
    • Tennis
    • Other Sports
  • Features
    • Opinions
    • Speeches
    • Poem
    • Interviews
    • Inspirations
    • People
    • People & Culture
No Result
View All Result
  • News
    • Crime
    • Peace & Security
    • Diaspora
    • Press Release
    • Photos
    • Videos
    • Religion
  • Business
    • Agriculture
    • Finance
    • Energy
    • Telecom
    • Economy
    • Travel
    • Mining
    • Oil & Gas
    • Tourism & Hospitality
    • Real Estate
    • Transport
  • Politics
    • Awake Election Watch
    • NDC News
    • NPP News
    • CPP News
    • Opinion Polls
    • Elections
    • Flagbearers
  • Education
  • Health
  • ShowBiz
    • Celebrities
    • Concert
    • Fashion
    • Music
    • Lifestyle
  • Sports
    • Football
    • African Football
    • European Football
    • Basketball
    • Athletics
    • Boxing
    • Disability Sports
    • Tennis
    • Other Sports
  • Features
    • Opinions
    • Speeches
    • Poem
    • Interviews
    • Inspirations
    • People
    • People & Culture
No Result
View All Result
Awake News
No Result
View All Result
Home Business Energy

AKER-GNPC deal is smart stealing – Onassis Kobby alleges

Nana Araba Bedu-Addo | News Editor by Nana Araba Bedu-Addo | News Editor
September 6, 2021
in Energy
A A
0
KK sapong and Kobby
66
SHARES
738
VIEWS
ShareShareShareShareShare

RelatedNews & Articles

Gov’t lied; Russia-Ukraine war not cause of fuel price hike – Yayra Koku releases data

Stay on track; ensure customers found guilty are not spared – Napo to ECG Task force

GNPC-Aker saga: NDC’s Onassis to petition Norwegian Anti-Corruption Agency

The Deputy Ashanti Regional Youth Organizer of the opposition National Democratic Congress(NDC), Onassis Kobby, says the deal between Aker Energy and Ghana Petroleum Corporation (GNPC) is quick-witted stealing of the country’s resources.

Senco Global Developers Senco Global Developers Senco Global Developers
ADVERTISEMENT

The GNPC wants to acquire stakes in two oil blocks – a 37% share in the Deep Water Tano/Cape Three Points (DWT/CTP) operated by Aker Energy and a 70% stake in the South Deep Water Tano (DWT/CTP) field operated by AGM Petroleum.

The deal, according to the Ministry of Energy, will result in the formation of a joint operating company with Aker Energy, AGM and GNPC Explorco, the operating subsidiary of the state oil company, as partners.

The GNPC is counting on Norway’s Aker and the United States’ AGM to build the muscles of GNPC Explorco, to become a profitable operator–exploring and drilling oil.

Adverts:- Land for Sale at Oyibi, Adenta, Ayi Mensah, Oyarifa. House for sale at Spintex, Oyarifa - CLICK HERE

In view of this deal, the Alliance of civil society organizations working on Extractives, Anti-corruption and Good Governance has warned that Ghana will be short-changed if the government goes ahead to fork out $1.65 billion for shares in two oil blocks.

In reflection of this, Mr Onassis who doubles as an expert in oil and gas revealed that the Ghanaian public has been lied to in respect of the intent of the Aker/GNPC share purchase, indicating, from a cursory look at events, format, and PR surrounding the transaction, a critical thinker and industry player will not fall short at labeling transaction as a deliberate scheme to steal the resources of the nation.

He further opined that GNPC made separate presentations to the Nana Akufo Addo cabinet that endorsed the proposed share purchase and to the parliament of Ghana. In their presentation to Parliament, GNPC omitted the Post-Transaction Structure – Create an Operator JV diagram as captured on page 26 in the presentation to the cabinet.

“This is what the Post Transaction structure is supposed to be; GNPC 10 % ( though not mentioned but constant ), Explorco 33% ( GNPC subsidiary), Aker 4 %, JV to operate the field 10% ( 6% aker and 4% Explorco ), Lukoil 38% and Fueltrade 5%.”,.

” From the above structure, it is clearly a distinct Lukoil owns the majority shares in the block , so how does it make any sense, that a certain JV to be formed by Aker and Explorco is going to be the operator where all decisions with regards to the development and production of the field will be taken ?. Isn’t it curious the majority shareholder of the block thus Lukoil is not part of the proposed JV to operate the field ?”, he quizzed.

He hinted that, “the deal is proposing a JV /Joint Operator Company to serve as the operator through a fund which will be owned by Aker 60% and Explorco 40% . The JV which will be a distinct company/fund will own shares in the DWT-CTP block with 10% ( Aker 6% and Explorco 4% ). From this proposition, Aker has clandestinely taken over control of the block with a majority stake in the JV where all actions will take place.

Onassis Kobby also disclosed that the sponsors of the deal claim, the arrangement is to train and equip Explorco into becoming an operator in the near future.

He continued: “quite insulting for Aker Energy to see itself as experienced and credible than GNPC/Explorco in that regard. Aker Energy is owned by Aker ASA and TRG which are all connected to the Norwegian billionaire Kjell Inge Rokke. The company has no credentials as an established E&P company. It was purposely set up to enter the Ghanaian hydrocarbon exploitation space. They can never claim to be experienced than our engineers and manpower at GNPC with vast knowledge in the industry who have been very instrumental to all multinational companies that have at a point in time attempted to invest in our hydrocarbon industry. The reverse must be the case! Such language should come from Lukoil which is a partner in the block “.

The Director of Operations of Indigenous Oil and Gas Company, reiterated that “Aker Energy makes a claim through GNPC to use a subsidiary of Aker ASA by name AkerBP as a leverage in its operatorship. If that is what the industry is about, then GNPC /Explorco would not need to partner any company as its lead because services of oil and gas service providers can be procured at any point in time. The shareholders and Board of Directors of Aker Energy and Aker BP are separate and distinct. At best, Aker Energy can only procure the services of AkerBP for specific tasks”.

Ultimately, “this arrangement only seek to steal our money in the name of buying shares then not having control over the resources in the end”, Onassis said.

Tags: Aker EnergyGhana Petroleum CorperationOnassis Kobby
Do you have any article or news or story leads? Let Awake News energize that story for you. Send them to editor@awakenewsroom.com or WhatsApp: +233249155003 ========================
Nana Araba Bedu-Addo | News Editor

Nana Araba Bedu-Addo | News Editor

Nana Araba Bedu-Addo is a seasoned broadcast and creative writer with over 10years of experience in the media industry. She is a TV and Radio Show Producer, Event Coordinator, and Mistress of Ceremony (MC). Before joining Awake News as the News Editor she was a journalism lecturer and worked with several TV and Radio stations. Contact Nana Araba via email: nanaaraba@awakenewsroom.com

Related Posts

News

 Aker-GNPC deal: You will be engaged at the ‘appropriate time’ – Energy Ministry to Lukoil

by Nana Araba Bedu-Addo | News Editor
September 9, 2021
KK sapong and Kobby
Energy

GNPC-Aker saga: NDC’s Onassis to petition Norwegian Anti-Corruption Agency

by Efo Korsi Senyo | Executive Editor
September 3, 2021
Haruna Iddrisu
Energy

GNPC-Aker deal: Allegation of bribery against me is malicious – Haruna Iddrisu

by Efo Korsi Senyo | Executive Editor
September 3, 2021
Energy

GNPC-Aker deal bribery allegations: NDC’s Amos to drag ASEPA’s Thompson, GNPC officials, other CSO leaders named to Police CID

by Efo Korsi Senyo | Executive Editor
September 3, 2021
  • Trending
  • Comments
  • Latest
Image credit: Daily Graphic

Waakye Kills 5: Suspected food poisoning, 40 others affected

January 27, 2023
John Dramani Mahama

Some achievements of John Mahama as President of Ghana (2012-2016)

August 16, 2020
Ken Ofori-Atta - Finance Minister

Government reaches agreement with banks on new terms for debt exchange program

January 24, 2023
Senco Developers

Top Building Construction companies in Ghana

January 31, 2023

NDC New Jersey charged to double up efforts towards winning power in 2024

January 30, 2023

GES Looking & Leapfrogging Into Menace and Mess – The Non-Operational Externality

January 29, 2023

RSS Properties for Sale

  • Prampram, Perfect Settlement – Genuine Plots January 24, 2023
  • Comm.25, Settle For The Best – Buy Genuine Lands January 24, 2023
  • Prampram, Ready To Move In? Buy Certified Lands January 24, 2023
  • Dawhenya, Acquire Genuine Land Get Great Packages January 24, 2023
  • Genuine Plots at Reasonable Price for sale at Prampram January 24, 2023
  • Land for sale at Dawhenya January 24, 2023
  • Pay less, own a plot of land at Prampram January 24, 2023

Vovoli TV

ADVERTS

Awake News

News Production & Advertising

Awake News is published by AM Network which seeks to give readers balanced and credible news from across Ghana and the world. We focus on giving our reader the reason to return to our portal for any news and why advertiser must place their ads on our portal...read more

Services

  • My Story
  • Advertise With Us
  • AMN Research
  • Contact Us
  • Vovoli TV
  • Awake Investigates

Partners

  • SenyoMart
  • GoPropertyLink.com
  • Senyo Global Solutions
  • FNN24.com
  • LoudSilenceRadio.com
  • GHface.com
  • myxyzonline.com
  • SenyoHost.com

 


Do you have any article for publication? Are you an eyewitness? Submit your stories and articles now via awakenewsonline@gmail.com or WhatsApp: +233249155003

  • All News
  • About Us
  • Advertise
  • AMN Research
  • My Story
  • Vovoli TV

Copyright © 2012-2020 | Awake News

No Result
View All Result
  • Vovoli TV
  • All Latest News
  • News
  • Politics
  • Education
  • Business
  • Health
  • Sports
  • Opinions
  • Entertainment
  • Press Release
  • My Story

Copyright © 2012-2020 | Awake News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In