Business News of Friday, 6 August 2021Source: www.ghanaweb.comPetroleum expert, Dr Theo Acheampong has said the Ghana National Petroleum Corporation (GNPC) has enough justification to proceed with its intention to purchase two stakes in Ghana’s offshore fields. Energy Minister, Dr Mathew Opoku Prempeh in a memorandum submitted to Parliament earlier this week requested approval for a US$1.65 billion loan for the purchase. Reacting to the development, Dr Acheampong believes the move will ensure GNPC gains control of some of the country's oil exploration and production projects. Theo Acheampong further adds the move falls in with GNPC’s strategy towards becoming a world class exploration and production entity by the year 2027. Meanwhile, in the just presented mid-year budget statement by the Finance Minister, Ken Ofori-Atta hinted at GNPC’s resolve to acquire two stakes in the offshore field which will primarily accelerate exploration and production.

Source: GhanaWeb August 06, 2021 17:31 UTC