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The Minority Caucus in Ghana's Parliament says the government's renegotiated agreement with Aker Energy / AGM is a complete rip-off by the President Akufo-Addo led administration.
The Minority Has Raised Thousands of Reduced Tides in the South Pacific Tano Block contract with AGM Petroleum Ghana Limited.
Addressing the media in Parliament on Friday, the Minority Leader Haruna Iddrisu pointed out that the potential loss of oil in the country was completely reduced to the size of the entire Jubilee Field.
"The impact of the 'sell-off' from AGM / Aker Energy is huge; A potential loss of over 250 million barrels of recoverable oil production equivalent (net to Ghana), which is almost the size of the entire Jubilee Field, "he said.
He also stated that they consider the deal to be a rip-off because of the state.
"The Minority Caucus finds this renegotiation as a rip-off as the GNPC has already gone over $ 30 million in acquiring data and reducing. He said.
The Minority Expressions of Dystrophy and Disease in the United States of America The Mahama Administration, including the forfeiture of $ 62 million representing 24% of the $ 259 million as the cost of the Well .
To further the retrenchment of the negotiating position has been retrogressive, the minority of the agreements negotiated by the previous Mahama administration and the current renegotiated by this current administration.
The terms negotiated by the previous Mahama led administration were: Royalty, 10%; GNPC carried interest, 10%; GNPC additional interest, 15%; GNPC Explorco, 24%.
However, the terms of the Akuffo Addo government are: Royalty, 10%; GNPC carried interest, 15%; GNPC additional interest, 3%; GNPC Explorco, 0%; and enhanced tax relieves.
The Minority side of Parliament is the answer to the need for money for development.
The group also questioned the rationale for renegotiation.
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