The Minister of Energy and Green Transition, John Jinapor has withdrawn the directive seeking to unitize oil fields ENI, Vitol and Springfield oil.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, Country Manager of Vitol Upstream Energy, and Springfield Exploration and Production.
Reasons
The minister in the letter dated February 25, 2025 explained that its action was influenced by a thorough review of the ruling on July 8, 2024. In addition, the decision was taken upon legal opinion provided by the Attorney General and the Minister of Justice.
The minister added that, the action was also influenced by the fact that the Tribunal in its ruling said the findings breached the country’s petroleum agreement.
Mr. Jinapor in the letter explained that based on the powers vested in him by the petroleum regulations, he took the action to withdraw the unitization directive to the oil exploration firms.
“The withdrawal of this directive is without prejudice to the power of the Minister to issue new directives upon subsequent evidence” he pointed out.
“Government of Ghana reiterates its commitment to maintain a conducive environment for investment in the upstream petroleum sector, while ensuring compliance with the legal and regulatory framework”, he cautioned.
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