Judgement debt looms as GNPC delays decommissioning of Saltpond Oil field
The Institute for Energy and Policy Research (INSTEPR) is cautioning of a looming judgement debt to be slapped the country should the Ghana National Petroleum Commission (GNPC) fail to continue with the decommissioning of the Saltpond oil field.
INSTEPR in a press release has accused the newly appointed Chief Executive Officer of the GNPC, Opoku Ahweneeh Danquah, of deliberately stalling Phase 2 of the decommissioning project by indefinitely cancelling a meeting that was to give way to commencement of the Phase 2 of the decommissioning.
Given the seeming reluctance of the CEO of GNPC to continue with the decommissioning project, INSTEPR asserts that the cost of the decommissioning could quadruple with Ghana paying multi-million dollar in judgement debt for breach of contract with Hans & Co. Oil and Gas Limited.
Ghana, in the last 20 years has paid over $2bn in judgement debts alone, recently, the government paid some $135m in judgement debt for the cancellation of its Power Purchase Agreement (PPA) with Ghana Power Generation Company (GPGC).
Read details of the press release below:
Instepr Report Saltpond Decom-1 by Fuaad Dodoo on Scribd
