The Minister of Power and Inexperienced Transition, John Jinapor has withdrawn the directive looking for to unitize oil fields ENI, Vitol and Springfield oil.
This was contained in a letter seen by JOYBUSINESSS addressed to the Managing Director of ENI Ghana, Nation Supervisor of Vitol Upstream Power, and Springfield Exploration and Manufacturing.
Causes
The minister within the letter dated February 25, 2025 defined that its motion was influenced by a radical assessment of the ruling on July 8, 2024. As well as, the choice was taken upon authorized opinion supplied by the Lawyer Basic and the Minister of Justice.
The minister added that, the motion was additionally influenced by the truth that the Tribunal in its ruling mentioned the findings breached the nation’s petroleum settlement.
Mr. Jinapor within the letter defined that primarily based on the powers vested in him by the petroleum rules, he took the motion to withdraw the unitization directive to the oil exploration companies.
“The withdrawal of this directive is with out prejudice to the ability of the Minister to challenge new directives upon subsequent proof” he identified.
“Authorities of Ghana reiterates its dedication to keep up a conducive surroundings for funding within the upstream petroleum sector, whereas making certain compliance with the authorized and regulatory framework”, he cautioned.
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