Close Menu

    Subscribe to Updates

    Get the latest headlines from PapaLinc about news & entertainment.

    What's Hot

    The Alleged Cause Of Death Of Legendary Daddy Lumba Revealed By Prophet Ajagurajah – Watch Video

    How Davido honoured Daddy Lumba during a concert in Canada

    ‘I can’t say I’ve arrested the cedi; I’m not a policeman’

    Facebook X (Twitter) Instagram
    • Lifestyle
    • Africa News
    • International
    Facebook X (Twitter) Instagram YouTube WhatsApp
    PapaLincPapaLinc
    • News
      • Africa News
      • International
    • Entertainment
      • Lifestyle
      • Movies
      • Music
    • Politics
    • Sports
    Subscribe
    PapaLincPapaLinc
    You are at:Home»Politics»Energy Minister withdraws unitisation directive on Sankofa oil field
    Politics

    Energy Minister withdraws unitisation directive on Sankofa oil field

    Papa LincBy Papa LincMarch 3, 2025No Comments2 Mins Read0 Views
    Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
    Energy Minister withdraws unitisation directive on Sankofa oil field
    Share
    Facebook Twitter LinkedIn Pinterest WhatsApp Email


    The Minister of Energy and Green Tran­sition has withdrawn the Unitisation Di­rectives imposed in 2020, which mandated the compulsory merging of Springfield Explo­ration and Production Limited (Springfield) and Eni Ghana Exploration and Production Limited (ENI) in relation to the Afina-1X Discovery and the Sankofa Cenomanian Oil Field.

    This decision, announced on February 25, 2025, follows a thorough review of an arbitra­tion ruling and legal advice from the Attorney General.

    The arbitration award, referenced SCC Arbi­tration U2021/114 (ENI & Vitol v. Ghana & GNPC), was issued on July 8, 2024.

    This is contained in a press statement issued by the ministry copied The Ghanaian Times.

    The Tribunal found that while the directives violated the Petroleum Agreement due to the manner in which they were enforced, the principle of unitisation itself was not unlawful.

    This gives Ghana the flexibility to determine the best approach for managing its petroleum resources. Despite the withdrawal, the Minister retains the authority to issue new directives when necessary to ensure efficient and equitable devel­opment of the country’s oil and gas sector.

    The government is now exploring options for coordinated development within and around the WCTP 2 contract area. It has also reaffirmed its support for Springfield as an indigenous Ghana­ian exploration and production company in its efforts to commercialise the Afina discovery.

    The appraisal of the Afina discovery has revealed significant gas potential, which could en­hance Ghana’s energy security and sustainability.

    The government plans to work with Spring­field and other nearby contractors to develop and monetise these gas resources as quickly as possi­ble. It also recognises the potential of the Tama field, located in Springfield’s block, which holds an estimated 1.2 trillion cubic feet of gas.

    This resource could play a vital role in strengthening the country’s energy supply. “The government remains committed to creating a stable and attractive environment for investments in the petroleum sector while ensuring that op­erations align with Ghana’s legal and regulatory framework,” the statement said.

    “It believes that Afina could still be developed as a unitised field in the future or linked to exist­ing infrastructure for production,” the statement added.

    Encouraging dialogue, the government has urged both ENI and Springfield to continue negotiations and seek an amicable and commer­cially viable solution. It remains open to discus­sions with all stakeholders to find the best way to sustainably manage and exploit Ghana’s natural resources.

     BY AGNES OPOKU SARPONG



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Reddit WhatsApp Telegram Email
    Previous ArticleGhanaian striker Forster Ajago scores first league goal for Real Salt Lake
    Next Article Fury over secretive fast-track HMRC phone line for ‘VIPs’ that deals with tax queries eight times quicker
    Papa Linc

    Related Posts

    Breaking News: Daddy Lumba is dead – Family announces

    July 26, 2025

    A unique Lutheran and Catholic cooperation

    July 26, 2025

    GTEC demands proof of PhD from Hassan Ayariga over alleged misuse of ‘Doctor’ title

    July 25, 2025
    Ads
    Top Posts

    Here’s why Ghana Airways collapsed in 2004

    November 5, 202449 Views

    A Plus questions the hypocrisy of NPP members who remained silent about corruption for 8 years, only to speak out after losing power.

    December 26, 202447 Views

    Urgent search continues for Paul Barning after he was attacked by shark during fishing competition

    February 23, 202539 Views

    Kenyan Senator breaks silence on her alleged intimate affairs, secret child with John Agyekum Kufuor

    December 21, 202434 Views
    Don't Miss
    Lifestyle July 27, 2025

    The Alleged Cause Of Death Of Legendary Daddy Lumba Revealed By Prophet Ajagurajah – Watch Video

    The Ghanaian entertainment industry has been thrown into mourning following the passing of legendary highlife…

    How Davido honoured Daddy Lumba during a concert in Canada

    ‘I can’t say I’ve arrested the cedi; I’m not a policeman’

    Protesters in Epping ‘want their voices heard’ and ‘won’t stop’ until migrant hotel is closed as ‘two tier’ Starmer starts snooping on social posts

    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • WhatsApp

    Subscribe to Updates

    Get the latest headlines from PapaLinc about news & entertainment.

    Ads
    About Us
    About Us

    Your authentic source for news and entertainment.
    We're accepting new partnerships right now.

    Email Us: info@papalinc.com
    For Ads on our website and social handles.
    Email Us: ads@papalinc.com
    Contact: +1-718-924-6727

    Facebook X (Twitter) Pinterest YouTube WhatsApp
    Our Picks

    The Alleged Cause Of Death Of Legendary Daddy Lumba Revealed By Prophet Ajagurajah – Watch Video

    How Davido honoured Daddy Lumba during a concert in Canada

    ‘I can’t say I’ve arrested the cedi; I’m not a policeman’

    Most Popular

    April 3, 2023 – Russia-Ukraine information

    October 17, 20240 Views

    ‘I’ve by no means seen something like this:’ Certainly one of China’s hottest apps has the flexibility to spy on its customers, say specialists

    October 17, 20240 Views

    Man in NPP’s ‘4 extra to do extra’ T-shirt arrested for stealing rice

    October 17, 20240 Views
    © 2025 PapaLinc. Designed by LiveTechOn LLC.
    • News
      • Africa News
      • International
    • Entertainment
      • Lifestyle
      • Movies
      • Music
    • Politics
    • Sports

    Type above and press Enter to search. Press Esc to cancel.

    Ad Blocker Enabled!
    Ad Blocker Enabled!
    Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.