Pulse.com.gh logo
Go


Sankofa Gas Project ENI OCPT contract bloated by $2 billion, Minority alleges

The MPs said the deal is bloated by 3 billion dollars, out of which government officials will take their kickbacks.

  • Published: , Refreshed:

The New Patriotic Party (NPP) Members of Parliament have fired salvos at the $7 billion Offshore Cape Three Points (OCTP) Sankofa Gas Project sponsored by Italian oil firm ENI.

The MPs said the deal is bloated by 3 billion dollars, out of which government officials will take their kickbacks.

William Owuraku Aidoo, MP for Afigya Kwabre South who spoke on behalf of the minority MPs at a presser said: “As has been stated earlier by the communications directorate of the NPP, it does appear that the contract is bloated by between 2 and 3 billion US dollars to the disadvantage of Ghana.”

“In doling two billion dollars out, God knows how much somebody in government will be taking as kickback… The agreement stinks, it is a rip off and cannot be allowed,” he added.

The NPP, through it communications director called on the Italian Prime Minister, Matteo Renzi, to review some terms in the ENI-Sankofi deal to maximise mutual benefits from the project during his visit to Ghana.

The party said: "The negotiated gas price of $9.8/MMBtu for gas from the Sankofa fields is too high by world standards, of between $5-7/MMBtu. It is even higher than the price of gas sold to Ghana from Nigeria, which stands at $8.3/MMBtu, delivered at Takoradi. It is even more expensive than our own Atuabo Gas price of $8.8/MMBtu delivered at Takoradi."

READ MORE

Government denied any wrong doing in the contract in a press statement issued by the Petroleum Ministry.

Matteo Renzi during his visit to Ghana gave assurance that the OCTP Sankofa Gas Project will continue despite tumbling crude oil prices.

Addressing Parliament in Accra Tuesday 2 February, 2016, Matteo Renzi said "We know this is a moment very difficult for oil prices, but I’m here and I host in the delegation, the CEO of ENI… to give a message of continuation and presence of Italian investors in this country."

"Let me be very clear, ENI has a historical connection to Ghana, but this project, a new project will be a game-changer for power generation in the country, bring benefits from here to 2086," he added.

The OCTP Integrated Oil and Gas Project includes the combined development of the Sankofa Main, Sankofa East,Gye Nyame, Sankofa East Cenomanian and Sankofa East Campanian fields.

The former three are non-associated gas fields while the latter two are oil fields. The development of the fields started in January 2015.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Police arrest 6 Menzgold customers trying to lock up Zylofon officebullet
2 How to create a verified PayPal account Learn how to create a verified...bullet
3 Capemay Properties unveils 209 Signature Apartmentsbullet
4 How to write a memo How to write a memo like a probullet
5 Don’t pay victims of financial scams; it sends bad signals-...bullet
6 1D1F: Nana Addo commissions diaper making factory in Bortianorbullet
7 How to create an NGO in Ghana How to register and start an NGObullet
8 Investment banks in Ghana Top 5 investment banks in Ghana...bullet
9 PR Dear Menzgold customers, here are 8 key things about...bullet
10 GRA to begin taxing churches on anointing oil and...bullet

Top Videos

1 Former Capital Bank staff grills pork for survivalbullet
2 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
3 Forbes 2018 Africa's billionaires rich listbullet

Business

X
Advertisement