GNPC reacts to judgement debt loom on failure to decommission Saltpond oil field
National Oil Company (NOC), the Ghana National Petroleum Commission (GNPC), has reacted to reports of an impending judgement debt over its failure to continue with the Phase 2 of the decommissioning of the Saltpond Oil Field.
The NOC in a press release dated June 29, 2022, debunked assertions that it has “indefinitely cancelled” a meeting that was to give way to the commencement of the Phase 2 of the decommissioning project for which reason the country is likely to be saddled with a judgement debt for breach of contract with the appointed contractor, Hans & Co. Oil and Gas Limited.
According to the GNPC in the said statement, contrary to the assertions made by energy policy think tank, the Institute for Energy and Policy Research (INSTEPR), it has written and confirmed a meeting with Hans & Co. Oil and Gas Limited on July 14, 2022, to hold talks on the commencement of the Phase 2 of the decommissioning.
“It is therefore not correct for INSTEPR or B&FT to suggest that the new Chief Executive (Mr. Opoku Danquah) has postponed and subsequently cancelled the ‘meeting to start phase 2 indefinitely’. On June 27, 2022, the Chief Executive Officer of GNPC had written to the Contractor (Hans & Co) confirming July 14, 2022, as the date for the Kick-Off meeting after consultations with the Contractor and Petroleum Commission,” said the GNPC.
Press Release on Saltpond Field Decommissioning (1) by Fuaad Dodoo on Scribd
The GNPC’s reaction to the subject matter follows an accusation made against the CEO of the GNPC, Mr Opoku Danquah, that he had deliberately stalled the Phase 2 of the decommissioning of the Saltpond Oil Field and that his actions could result in a judgement debt for the country.
The accusation was made by the INSTEPR was contained in a press release dated June 27.
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).
Instepr Report Saltpond Decom-1 by Fuaad Dodoo on Scribd
