According to ACEP, their checks revealed that GNPC is seeking to assign interests in some of Ghana oil blocks to the company known as Jubilee Oil Holdings. The alleged transaction, Mr. Yaotse said, relates to GNPC’s quest to acquire 7% commercial interest in the oil blocs of Ghana. GNPC in 2021 announced moves to acquire the said interest, adding that it will be transferred to GNPC’s subsidiary, the GNPC Exploration and Production Company (GNPC Explorco). “Jubilee Oil Holdings is registered in the Cayman Islands with Kofi Koduah [KK] Sarpong and Freddie Blay as directors,” he said. TWI NEWS“However, in the absence of evidence of shareholders of Jubilee Oil Holdings we [ACEP] proceed with the assumption that GNPC owns the company.

Source: GhanaWeb January 14, 2022 10:09 UTC