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Ghana lost no revenue from FPSO meters breakdown

31 July 2011 | Business & Finance

The Ministry of Energy has explained that Ghana did not lose any revenue when the flow meters of the FPSO Kwame Nkrumah broke down about three months ago.

It says this was so because electronic measurement arrangements were made.

The Communications Manager at the Ministry, Edward Bawa, gave the explanation in an interview on Asempa FM's Kukurantumi on Saturday.

He told host Kwadwo Asare-Barfur Acheampong work on the installation of two new flow meters procured to replace the ones that broke down on FPSO Kwame Nkrumah at the Jubilee Field was to start Saturday.

Mr. Bawa said the fixing was expected to be completed by Monday, August 1.

Asked about an alleged controversy between Tullow Oil and the Ghana Revenue Authority (GRA) as a result of which the latter cannot go near the FPSO let alone assess oil revenues, Mr. Bawa said it cannot be true.

He explained that keys to the oil storage are with the GRA representative on the FPSO and so before oil is offloaded, the revenue agencies and other authorities are aware of the quantity.

A member the New Patriotic Party's communication team, Sammy Awuku, said it was strange that there were no records of oil production at the Jubilee Fields and served notice that everyone who had squandered even a pesewa from the oil would have to account for it when the NPP comes to power after the 2012 elections.

Story by Kwaku Antwi-Otoo/Asempa FM/Ghana

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Business & Finance

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