Energy Minister Calls Out GNPC Chairman Over PetroSA Deal

Ghana's Energy Minister, Dr. Matthew Opoku Prempeh, also known as NAPO, has accused the Board Chairman of the Ghana National Petroleum Corporation (GNPC), Freddie Blay, of ignoring government directives and attempting to offload Ghana's oil interests to the South African company PetroSA. The minister has ordered Blay to withdraw from the deal and cease further engagements, citing that it is not in Ghana's interest. This move comes after Blay had proposed a deal with PetroSA to acquire a 50% stake in the Anadarko West Cape Three Points Company, despite government directives to cease such actions.

Key Takeaways:

• The Energy Minister, Dr. Matthew Opoku Prempeh, accused GNPC Chairman Freddie Blay of ignoring government directives and attempting to push through the PetroSA deal.
• Blay had proposed a deal with PetroSA to acquire a 50% stake in the Anadarko West Cape Three Points Company, which contradicts government directives.
• The minister has ordered Blay to withdraw from the deal and cease further engagements, citing that it is not in Ghana's interest.
• Blay was copied in correspondence between the Energy Minister and the South African minister of mineral resources and energy, Hon. Gwede Mantasha.
• The GNPC is trying to sell 50% of the 7% interest the government recently acquired in the Anadarko West Cape Three Points Company (WCTPC).
• The deal would decrease the government's interest in the Deep Water Tano (DWT) portion.

Statistics:

• 7%: The percentage interest the government recently acquired in the Anadarko West Cape Three Points Company (WCTPC).
• 50%: The percentage stake the GNPC is trying to sell to PetroSA.
• 2: The number of successive correspondent letters the Energy Minister has sent to the South African minister, with copies to Blay.
• 23 April 2023: The date Blay offered part of the government-acquired JOHL interest in the DWT to PetroSA.

Sources:

• "The Chronicle newspaper"
• "The Ghana Web - 23 May 2023"