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Aker oil find: Ghana risks losing $30bn – IMANI

Policy think tank, IMANI Africa, has revealed that the government of Ghana risks losing US$30 billion in the recent oil find by Aker Energy Ghana Limited.

IMANI Africa said Aker discovered the oil after its exploration licence had expired in 2014 and failed to go through the right processes, thereby making their exploration activities illegal.

IMANI believes the Pecan X and Pecan Y in the Deepwater Tano Cape Three Points block (DWT/CTP) are essentially not covered by any of the Petroleum Agreements (PA) in force, hence those additional finds require a new Petroleum Agreement to be negotiated under the Petroleum (Exploration and Production) Act, 2016 Act 919.

At a press conference in Accra on Thursday, April 25, 2019, Vice-President of IMANI Africa, Mr Kofi Bentil, questioned why the government has not taken action to secure what is due the country.

“Those two blocks are controlled and owned by Aker. So, it is a curious trend that if it comes to that we don’t seem to pursue our rights and to get the most from our oil,” Mr Bentil said.

Aker’s find is about 450-550 million barrels, with potential recoverable reserves of nearly one billion barrels, a discovery touted as the biggest in the oil sector in Africa.

 

Source: classfmonline.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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