29 CSOs want GNPC CEO, Freddie Blay sacked over PetroSa deal

Some 29 Civil Society Organisations are demanding the immediate removal of GNPC’s Chief Executive Officer, Opoku Ahweneeh Danquah and Board Chairman, Frederick Worsemao Armah Blay.

The CSOs made up of the Africa Centre for Energy Policy (ACEP), Centre for Democratic Development (CDD-Ghana), the Chamber of Petroleum Consumers Ghana (COPEC), Imani Centre for Policy and Education and 25 others accuse the two men of working against the interest of the state.

The demand for their removal comes in the wake of GNPC’s intention to sell a 50% stake in Jubilee Holdings Limited (JOHL) to PetroSA, despite the substantial revenue potential this interest holds for the state.

Addressing the press on Tuesday, May 23, the Coordinator for the coalition, Abdul Karim Mohammed said the continuous presence of these individuals, closely associated with petroleum operations, poses significant risks to Ghana’s interests.

Mr Mohammed explained that the Energy Minister, Dr Mathew Opoku Prempeh is against a decision by the Board Chairman of GNPC, Mr Blay for offering interest in Ghana's oil fields to a South African oil company, Petroleum Oil and Gas Corporation of South Africa (PetroSA).

Mr Blay in his capacity as the GNPC Board Chairman is said to have written to PetroSA offering it an equal split in the interest held by GNPC's subsidiary Jubilee Oil Holdings Ltd.

“It is a viable field, and it is giving us a lot of money if we allow this to go forward. What it means is that PetroSa will be entitled to 50 percent of the earnings from the field, whereas they have not had any role in developing the field to the point where it is now viable.

“The information we have is that the Minister for Energy has objected to this transaction but the Chairman of GNPC Board is pushing this transaction to the extent that the Minister of Energy had written to the Jubilee House over this transaction.”

-Citi Newsroom