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The parliamentary minority wants Nana Akufo-Addo's government to withdraw from parliament, an agreement to sell 58% of its oil interests to a Norwegian interests, AKER Energy Ltd.
Insist that the agreement is not in the national interest, say NDC deputies, will see Ghana lose $ 10 billion to AKER Energy.
AKER and AGM are striving to explore and exploit Ghana's oil resources in the southern block of Deep Water.
Photo: Map of Ghana's offshore activities Source: Ghana Petroleum Commission
The John Mahama government first signed an agreement with AGM Petroleum in 2013, but not without ACEP calls to suspend the transaction.
But the government explained that a revision had become necessary because Petrica Holding AS acquired in 2018 shares of its parent company, AGM Petroleum, and also owned Aker Energy.
Indeed, the two oil exploration and production companies related to a company are working in the same oil well area at about 3,000 meters deep.
The AGM review request should maximize the resources available to find oil in commercial quantities.
But under the Akufo-Addo government, a deal under review should result in a drop in royalties from Ghana from 43% to 18%. The minority compared the benefit structure between the two jurisdictions.
"You are all students in arithmetic. Who defends a better national interest, "Friday told the minority leader Haruna Iddrisu at a press conference.
The leader of the NDC in Parliament said it was all the more surprising that as the prospects in the Deep Water Tano South building grow "brighter and brighter," the interests of the government are diminishing more and more.
He called it a "bewildering transfer of benefits" and expressed his disgust at what he saw as a government eager to go out of its way to "excite" foreign interests.
Minority MPs are also targeting a party in the deal, Quad Petroleum, which will get a 5% stake in the oil bloc under the new deal. Quad Petroleum is the local content partner of the AGA agreement under review.
"Who benefits from these 5% of local content," asked Haruna Iddrisu. The company, noted the minority, exists only a month ago, was incorporated on April 10, 2019.
Haruna Iddrisu called the shameful cut agreement Ghana's interest and "total sale".
The deputy of the National Democratic Congress (NDC) of Tamale South, while calling on the government to withdraw the agreement, also condemned the "indecent feeling" of the government that forced the agreement to be adopted by Parliament after the recall of Easter deputies.
He added that the supreme interest of Ghana could be sacrificed if MPs had a week to falsify an oil deal that promises huge financial benefits or predicts serious harm to the country's interests.
Mr. Mohammed Amin Adams, Executive Director of the African Center for Energy Policy (ACEP) who opposed the Petroluem AGM agreement in 2013, is Deputy Minister of Energy, the agreement of the AGM reviewed for debate in Parliament.
The Parliament's Mining and Energy Committee recommended that MEPs approve the deal despite the lack of approval of minority MPs in the commission.
The ruling MP of the new Patriotic Party (NPP) in the Tarkwa-Nsuaem constituency in the western region is also the The vice chairman of the committee, George Mireku Duker, however, defended the agreement, saying that Ghana would gain up to 5% more in the oil bloc if the renegotiated agreement was approved.
He rejected the minority's badertion that the state would lose up to $ 10 billion in the revised royalty and interest regime. The NPP MP called it "voodoo mathematics".
Photo: George Mireku Duker is Member of Parliament for the Tarkwa-Nsuaem constituency in the Western Region
The NPP MP chose one aspect of the royalty regime – the GNPC bore interest – which, he said, was revised from 10% to 15%.
But another aspect of the scheme also shows that the additional interest of GNPC has gone from 15% to 3%.
Explorco, a partner of the Annual General Meeting, held 24% of the capital, but is now void under the agreement under review. The Vice President explained that, with 24%, the GNPC had to invest considerable sums to invest in exploration.
He said that the GNPC, as a partner in the exploration agreement, might have to borrow huge sums to invest in the business.
The MP from the nuclear power plant explained that it was to limit Ghana's exposure if exploration failed. "If you borrow and touch a dry well, it will affect the country … so why are you taking it?"
He explained that the agreement under consideration was aimed at minimizing Ghana's risk and maximizing areas with more benefits, such as local content, from 2% to 5% under the new proposal submitted to Parliament. .
Support the involvement of Quad Petroleum, his capacity and his recent constitution, the NPP MP said, "I'm not worried at the time when the company was created. My concern is whether a law has been broken. "
Despite concerns about the lack of local business capacity, the MP of the NPP insisted that he "will not ridicule any Ghanaian company."
Although he expressed his enthusiasm for the involvement of a Ghanaian company, he did not want to reveal on the radio the owners of this company.
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