Mr. Alex Mould has heaped praises on the former president, John Agyekum Kuffour for giving Ghana a very good oil deal during his tenure as president of Ghana.
This took place at a two-day conference on Oil & Gas at the University of the East London, UK which took place on 29th and 30th October 2019, organised by some Doctoral Researchers studying Petroleum Law led by Aba Yalley.
Mr Alex Mould was invited as the Special Guest Speaker to discuss and debate “Ghana’s Oil Industry – A Curse or Blessing?” Under the Theme: Ghana Minerals and Natural Resources for Socioeconomic development vis-a-vis the Governance, Revenue Management and Socioeconomic impacts, considering the resource curse phenomenon which has bedevilled some African oil-producing countries like the Nigerian scenario.
The two-day conference started at the University’s Docklands Campus and ended at the Oil Law Faculty, Stratford Campus.
This event also attracted Ghana’s Minister of Energy, Hon. Peter Amewu to grace the occasion on Tuesday, and made submissions to explain the judicial management of the Oil revenue under the Presidency of Nana Akufo-Addo, and also pointed to some admirable policies and programs put in place under his watch as Minister.
Some Ghanaians who attended the event have attested to the fact that watching Mr Alex Mould demonstrate his technical expertise in the field of oil and gas industry was bewitching.
During debate on Ghana Oil and Gas being a curse or Blessing, Mr. Alex Mould disagreed with a panellist who alluded that African countries rush into negotiation tables to agreements with no good knowledge and skills to demand deals favours their countries in a long term.
In his response, Mr Mould asserted that indeed Ghana stands to earn more than 50 per cent of its total oil shares from Jubilee Oil Filed, suggesting that former President Kufour did manage to strike a better deal for Ghana. This assertion by Mr Mould, some political pundits believe would go a long way to demystify the mischief and propaganda some section of Ghanaians levelled against President Kufour, that He secured only 10 per cent shares with the IOCs for Ghana.
Mr Mould’s affirmation of good oil agreement signed by President Kufour has also been corroborated by the press statement read by the Hon. Minister of Energy at the press conference held at the Ministry of Information on 26th Day of April 2019, in response to the press conference by public advocacy think-tank – IMANI which sought to challenge what it thinks are various acts of omissions and/or commissions on the part of the Government of Ghana in respect of the plan of development (PoD) submitted by Aker Energy for and on behalf of all the contracting parties in the Petroleum Agreement (PA) covering the Deep Water Tano/Cape Three Points (DWT/CTP) contract area.
In that press statement, the Hon. Minister stated that: “The DWT/CTP PA provides a crude oil sharing mechanism in addition to other benefits such as taxes, of which under the existing agreement, Ghana’s share is estimated at about 55-60% of the net oil produced. It is important to state that these benefits are spread over the field life.”
Comparing Ghana’s oil shares agreement to that of Nigeria getting a maximum of 48 per cent, makes Ghana praise-worthy.
According to the International Energy Agency, Nigeria produces about 2.5 million barrels per day, still well below its oil production capacity of over 3 million barrels.
Ghana is yet to reach its second phase of producing 250,000 barrels per day ss it’s currently producing about 125,000 barrels per day.
The Oil and Gas debate at the University of East London was Chaired and Moderated by an Energy Policy Advisor and the UK Authorised High Voltage Engineer, Mr Peter Abtwi Boasiako, who’s a resident of the United Kingdom.
Other distinguished Guest Speakers who took part in the Oil and Gas debate in London were:
Justice Dr. Richmond Osei-Hwere – Justice of Ghana High Court, with expertise in Oil & Gas Law. An Adjunct Lecturer – Faculty of Law, Kwame Nkrumah University of Science and Technology (KNUST).
Mr John Darko – Senior Legal Consultant Supervising the Drafting of Ghana National Gas Act for Ghana’s Gas Industry. Partner at a Darko, Keli- Delataa & Co. Lecturer at GIMPA, Law Faculty
Dr. Rainer Akumperigya – Law Lecturer, Ghana Institute of Management and Public Administration (GIMPA) School of Law, Ghana. Legal Practitioner and Senior Partner at Partners & Associates, Ghana.
Dr Eddy Wifa – Lecturer at Nottingham Law School. Director for the African Natural Resources and Energy Law Network.
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