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Business News of Thursday, 9 September 2021

Source: rainbowradioonline.com

GNPC’s plan to increase oil bloc shares in Aker Energy deal worrying - Lukoil

The government had expressed its readiness to support GNPC to acquire stakes in Aker Energy The government had expressed its readiness to support GNPC to acquire stakes in Aker Energy

Russian energy company, Lukoil, has expressed displeasure about the Ghana National Petroleum Corporation’s (GNPC) planned acquisition of stakes in Aker Energy and AGM Petroleum Ghana.

The company in a letter addressed to the Energy Ministry stated that it “has not been aware of and engaged in discussions of its partners to sell the stake and change the operatorship.”

The company currently has a 38 percent Licence Interest and a 42.22 percent Participating Interest as a partner in the Deepwater Tano Cape Three Points (DWT/CTP) block offshore Ghana.

The company in its letter disclose that they would want to be part of the decision-making process.

“In order to avoid any negative consequences for the DWT/CTP project, LUKOIL shall be directly involved in the discussion of such fateful issues as (i) the solo/ acquisition of the Aker Energy’s share, (ii) the resignation of the Operator of the DWT/CTP project and appointment of a successor and (iii) further project financing plans, so as to ensure further sustainable development of the project in the interests of all stakeholders,” the letter said.

The government had expressed its readiness to support GNPC’s to acquire stakes in Aker Energy and AGM Petroleum Ghana Limited despite opposition from some civil society groups.

The Energy Minister, Dr. Mathew Opoku Prempeh, said the government is fully behind GNPC.

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