1.0 INTRODUCTION

The attention of the undersigned members of the Alliance of Civil Society Organizations (CSOs) working on Extractives, Anti-Corruption and Good Governance has been drawn to a proposed transaction between Ghana National Petroleum Corporation (GNPC) and Aker Energy for a farm-in to two oil blocks operated by Aker Energy Ghana limited.

The Corporation and Government cite “energy transition” as the anchor for the decision. We agree that the energy transition requires an appropriate policy response, which Ghana may be running late on, but cannot be a guise for poor decisions that threaten the country’s economic and fiscal outlook. We are also not opposed in principle Government increasing its stake in natural resource ownership. However, we are concerned about this specific transaction.

After analysing the proposals by GNPC and Government, we are clear in our minds that the transactions, if approved, will short-change Ghana. Therefore, we request Parliament to intervene, given that the deal has gone through all the relevant branches of the Executive1, ostensibly glossing over important threats of the transaction to the country’s fiscal situation.