| News Home (Main Page) | | African Newspaper | | LATEST WORLD NEWS | | | | | NEWS ARCHIVE 2009 | | NEWS ARCHIVE 2008 | | NEWS ARCHIVE 2007 | | PHOTO REPORTS | | VIDEO REPORTS | | ARTS in GHANA | | Food & Drinks in Ghana | | Africa Cup 2008 | | Ghana Hotels | | Links / Websites | | Ghana Districts | | Ghana Tourism | | Ghana Classifieds | Names in Ghana | | | | * 03.02.2010 | Bawku gets military barracks * Source: GNA | Bawku (UE) Feb. 3, GNA - The Ministry of Defence in collaboration with the Ghana Armed Forces, has established a military barracks at Bazua in the Binduri Constituency in the Bawku Municipality in the Upper East Region. The facility which was provided by the government and the assembly is valued at 16,000,00 Ghana Cedis and will accommodate personnel of the Airborne Force in Tamale to bring about lasting peace to Bawku and to serve as a focal point for maintaining law and order in the region. Inaugurating the facility, the Defence Minister Lieutenant General Joseph Smith (Rtd) asked the chiefs and people of Bawku especially the two feuding factions to see the soldiers as friends who have come to facilitate the development of the area.
He appealed to the feuding parties to forgive one another to promote progress. General Smith expressed the hope that the facility would help to speed up the peace process in the area. He noted that government has plans to develop the North including Bawku and cited the Rural Safety Net Project, the Savannah Accelerated Development Authority (SADA) and the Northern Rural Growth Programme as examples. The programme has attracted 104.3 million dollars from the International Fund for Agriculture Development and Africa Development Bank and would be spent on rural development with the aim of addressing poverty in the North.
Gen. Smith commended the soldiers for accepting to serve mother Ghana at the expense of their lives and urged them to deliver as expected. The Regional Minister Mr. Mark Woyongo noted that the military barracks was a great source of relief to solving problems related to the conflict, and said time spent travelling the long distance from Tamale to move troops to Bawku when the conflict flared up would be reduced. He cautioned that the establishment of the barracks was no guarantee that lasting peace would return to Bawku, stressing "peace that endures and lasts should originate from the hearts and minds of the two factions- Mamprusis and Kussasis."
Mr. Musah Abdulai, Municipal Chief Executive said the barracks was a step to ensure the maintenance of law and order in the area. He said government had embraced peaceful co-existence as one of its topmost priorities because of the benefits attached, adding that law and order, human safety and security remains the cornerstone of government's internal security policy. | | > BACK to TOP < | | ______________________ |
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| LATEST GHANA NEWS Wednesday, 3 February 2010 WEEK 05 - 2010 |
| * Wednesday, 03 February 2010 | | Nana Addo Is Too Old…Alan Is More Vibrant- Kwabena Agyepong * Source: Peacefmonline | Former Presidential Spokesperson in the erstwhile New Patriotic Party (NPP) administration, Mr. Kwabena Agyepong, has in a rather couched manner, pointed out that the Party’s flagbearer in the 2008 General elections, Nana Addo Dankwa Akufo-Addo, has aged and needs to make way for a more vivacious and energetic person.
The NPP stalwart, who openly rooted for Nana Addo as the flagbearer in the party’s 1998 and 2007 Congresses, explained that his decision to switch camp to Mr. Alan Kyeremanteng’s side, was principally because “Allan is full of energy and youthful” and one, whose candidature will yield the required dividends for the party in 2012.
Buttressing his statement, in an interview on PEACEFM’s “Kokrokoo”, Mr. Agyepong said his call for a young generation politics was more pronounced at the time he was gunning to become the NPPs flagbearer in 2007 and wants to remain consistent with what he stood for.
“You will recall during the presidential elections, I stated that I prefer new generation politics. For me, I want to be consistent in what I do, consistency is very important….Looking around the world, I believe if the age at which one can run as president is reduced, it will greatly help, because the task is burdensome….You need vibrancy and energy to be able to rejuvenate the country. Frankly,…my sympathies lie with Alan Kyeremanteng, because he is a younger and a vibrant candidate… but whoever the Party selects, we’ll support him,” Mr. Agyepong said.
Asked why this sudden turnaround, since he canvassed for votes for Nana Addo in 1998, the former presidential Spokesperson replied, “He (Nana Addo) was a younger and vibrant candidate at the time,” he said. According to him, “70% of the Ghanaian electorate is below the age of 39” and the “youth would want to connect with someone who they can easily relate with.”
He, however, quickly added that old-age should not be seen as something too dreadful or alarming.
“We all pray to God for good health and long life, it’s not a bad thing…those are my personal decisions. I believe in a vibrant and younger leadership for our Party,” he added.
Mr. Agyepong argued that “politics is a lose or a win game” and “should not be seen as a life and death matter”.
“The fact that one supports a particular candidate does not mean he hates the other candidate,” he stated. | | > BACK to TOP < | Mass resignations hit Obuasi NPP leadership * Source: JoyOnline | The entire 19-member council of elders for the New Patriotic Party's Obuasi constituency have resigned from the party.
The 19 people resigned to protest a decision of the National Executive to uphold constituency elections which they claim was unconstitutional.
The party’s electoral committee ignored a court injunction placed on the Obuasi constituency elections, and allowed them to vote during the NPP’s Ashanti regional congress on Monday.
Member of Parliament for Obuasi, Edward Ennin, says the mass resignation is a big blow for the party.
Delving deeper into the issue, Mr Ennin said the issue started when the national executives threw away a report prepared at the instance of the regional executives of the party on disputed polling station elections in the constituency.
According to him, the council of elders investigated results of polling station elections from 30 polling stations but the council had recommended that elections be held for only seven polling stations.
The national executive committee however rejected the report of the council of elders and ordered the constituency secretary to conduct elections, a situation which did not go down well with the council of elders.
Meanwhile the Chairman of the NPP Council of Elders in Obuasi, Nana Antwi, tells Joy News that although he and his colleagues have resigned, they will not defect to another party.
In a reaction to the developments, newly elected Ashanti Regional Chairman of the NPP, Frederick Fredua Antoh, said the situation is rather unfortunate as it comes closely on the heels of the party’s regional congress. | | > BACK to TOP < | NPP risks losing 2012 elections...Alan * Source: Citifmonline.com | A Presidential hopeful of the opposition New Patriotic Party, Alan Kwadwo Kyerematen, says the NPP risks losing the 2012 elections if unity is not forged amongst party members.
According to him the NPP needs a grassroots type of campaigning, to reclaim power from the NDC.
“We have to fight to come back to power…we have to forge a united front and work together as a united family, secondly it will depend on the type of campaign that we run…unless we conduct a grassroots campaign, it will be very difficult for us to see ourselves back in government,” he said.
The former Trade Minister in the erstwhile Kufour administration, made these remarks when he hosted the leadership and members of the minority NPP in parliament at his private office on Tuesday, February 2.
Members of the minority who attended the meeting included the second Deputy Speaker, Professor Mike Oquaye, Minority Leader Osei Kyei Mensah-Bonsu, Minority Chief Whip Frederick Opare Ansah, among others.
Alan Kyerematen expressed worry at the growing rate of factionalism within the NPP, and called for cool heads as members try to support one candidate or other.
“I am deeply concerned myself, take my word, that I have absolutely no interest in fighting for my own ambition without subjecting it to the overall interest of our party…I want to assure you that if you hear a faction to which my name is subscribed I have no interest in pursuing the element factionalism” He said.
His comments come days after some of his supporters were attacked by some security personnel of Nana Akufo-Addo.
Nana Addo has since condemned the attack and called for unity of purpose within the party. | | > BACK to TOP < | Father impregnates daughter * Source: daily Guide | A man who could not resist the beauty of his biological daughter has allegedly raped and impregnated her, landing himself in deep trouble with the Ashaiaman branch of the Domestic Violence and Victims Support Unit (DOVVSU) of the Police Service.
According to DOVVSU officials, the incestuous father, Baba Musa, hails from Sandema in the Upper East Region but resided in Klogon near Sakumono and worked as a private security man for an unnamed firm in his area. Baba Musa, 38, was arrested and detained by the police after his 20-year-old daughter (name withheld), who was two months pregnant, reported him to the unit for raping her on numerous occasions while holding a knife to her throat.
Daily Guide first heard about the alleged incest from a resident of the area where Musah and his daughter lived and when contacted, the Ashaiman Divisional Co-orinator of DOVVSU, Assistant Superintendent of Police (ASP) Christine Yevunoo confirmed the report.
ASP Yevunoo said the victim’s stepmother who was separated from the accused person, also confirmed the allegation against Musah who had since admitted to the crime and blamed the devil for his actions. The DOVVSU Divisional Co-ordinator said the victim had explained that the marriage between her father and mother broke down, with her mother relocating to Kumasi where she came from.
The victim was said to have followed her mother to Kumasi where they lived with relatives until recently when her mother died. The victim, who had one child, according to ASP Yevunoo, after staying in Kumasi for some time, relocated back to Accra after her mother’s death to join her father and his new wife with their three children at Klagon. Not long after her arrival, the stepmother packed out of the house with her three children and relocated to Accra, leaving behind the victim and her father.
As if to suggest that he wanted his daughter to take over the duties of wife, Baba Musah was reported to have prevented his daughter from going out often and always insisted that she remained indoors. He was said to have also prevented her from talking to men including their immediate neigbours and only allowed her out when she had to run an errand for him. The victim claimed that her father pulled a knife on her and forcibly had sex bouts with her continuously at their residence.
Realizing that the victim was pregnant, Musah allegedly intensified his strict measures on her to prevent people, especially next door neigbours from noticing his evil and shameful act. Freedom finally came the victim’s way when one of her step-brothers visited them. The victim, seeing her chance to escape from his incestuous father, asked his permission to see off her stepbrother to the roadside, where he was expected to board an Accra bound vehicle.
Unknown to Musah, his daughter had other plans, she boarded the vehicle with her brother and arrived at her stepmothers residence where she quickly recounted her ordeal at the hands of Musah. The victim and her stepmother dashed to the Ashaiman branch of DOVVSU and reported the case to officials. The accused, according to the head of the unit, was quickly arrested after which he admitted the offence during interrogation, blaming the devil for his incestuous acts. He allegedly asked the victim to return home with him so that together they could go to the bush where he could perform an abortion for her.
She however declined to go back with him, fearing that he might kill her if she when with him to Klagon. Speaking to Daily Guide, Musah confirmed the allegations but said he was making frantic efforts to convince his daughter to go with him to perform some rituals to cleanse the two of them of curses that might come as a result of the abomination act he engaged his daughter in. Musah blamed the devil for his actions and said he was sorry, promising that he would never do such a thing again so long as he lived.
The DOVVSU boss said as soon as investigations were completed, Musah would be hauled before court this morning to face two charges on incest and rape. Meanwhile, the unit is in talks with a non-governmental organization (NGO) to find support for the victim who is currently putting up with her step-mother in Accra. | | > BACK to TOP < | An Unfolding Saga ANADARKO VRS GNPC * Source: New Crusading GUIDE | Records available to The New Crusading GUIDE show that some aspects of the ‘messy politics’ confronting Ghana’s Oil Industry in the wake of assumption of office by the Mills Administration are directly attributable to the conduct and actions of a giant US oil company, ANADARKO.
The ‘romance’ and/or ‘love affair’ between ANADARKO and the NDC (3) Administration led by President Mills found expression in a fast-track congratulatory message it (ANADARKO) dispatched to the then newly appointed Minister of Energy, Dr. Joe Oteng-Adjei on February 24, 2009 to the effect that “Please accept our congratulations upon your appointment as Minister of Energy in President Mills’ new government.
THE NATION IS FORTUNATE TO HAVE YOU IN SUCH A KEY POSITION IN THE CRITICAL OIL AND GAS SECTOR. WE LOOK FORWARD TO WORKING WITH YOU”.
It is the same ANADARKO’s due diligence investigations on Kosmos/EO Group prior to its entry into the Jubilee Oil Fields upon the invitation of Kosmos in 2006, that the Mills-led Administration has been relying on to pursue its ‘witch-hunt’ of the EO Group since it assumed office in January 2009.
This is in spite of the fact that ANADARKO officials, at a meeting held in Washington on June 15, 2009, had told a Ghanaian government team led by the Attorney-General and Minister of Justice, Mrs. Betty Mould-Iddrisu that their $2.5m investigations had found no “smoking gun” pointing to any criminality and illegality on the part of Kosmos and its local partners, the EO Group in connection with their acquisition of exploration and production rights in the West Cape Three Points Block in July 2004.
NOT SURPRISINGLY, IT WAS (IS) YET ANOTHER ALLEGATION/COMPLAINT OF ALLEGED LACK OF TRANSPARENCY AND UNFAIR TREATMENT MADE BY ANADARKO AGAINST THE GNPC WHICH INFORMED THE STRANGE AND PATENTLY ILLEGAL DECISION OF THE MINISTER OF ENERGY TO ABROGATE THE NOVEMBER 5, 2008 PETROLEUM AGREEMENT (PA) SIGNED AMONG THE GOVERNMENT OF GHANA (GOG), GHANA NATIONAL PETROLEUM CORPORATION (GNPC), AKER ASA AND CHEMU POWER COMPANY LIMITED.
THE MINISTER’S DECISION WHICH AKER ASA HAS SINCE CHALLENGED, WAS CONTAINED IN A LETTER DATED DECEMBER 30, 2009 ADDRESSED TO THE PRESIDENT OF AKER ASA (See The New Crusading GUIDE, January 21, 2010 for the full text of that letter and the editions of January 26, 28 & 29, 2010 for the reactions of the Norwegians (Aker ASA) and GNPC’s Legal Opinion given to the Minister prior to his ‘abrogation letter’).
To authenticate the preceding information relative to the positions of ANADARKO and GNPC, the Special Investigations Team (SIT) of The New Crusading GUIDE, courtesy our well-placed sources at the Ministry of Energy (MoE), publishes in today’s edition, some relevant documents/letters for the perusal/scrutiny of our readers and the general public.
Please read on and stay tuned for more…
…FROM ANADARKO’s VEEP TO GHANA’s MINISTER OF ENERGY (FEBRUARY 24, 2009) The Honourable Joseph Oteng Adjei Minister of Energy Republic of Ghana
Dear Minister,
Please accept our congratulations upon your appointment as Minister of Energy in President Mills’ new government. THE NATION IS FORTUNATE TO HAVE YOU IN SUCH A KEY POSITION IN THE CRITICAL OIL AND GAS SECTOR. WE LOOK FORWARD TO WORKING WITH YOU.
Mr. Minister, we feel it our duty to bring to your attention an issue that we believe has negatively affected the best interests of Ghana and our respective companies. On 21 July, 2008, Hess and Anadarko were encouraged by GNPC to put in a joint bid for the Ultra Deepwater, Tano block and asked to combine the best elements of our earlier, individual bids.
We were informed that if we made such a strong bid, it would overcome a previous demand by then Chairman of GNPC, Stephen Abankwa, that we carry an unknown Ghanaian party for five percent (5%) something neither Hess nor Anadarko can do given that we are both subject to the US Foreign Corrupt Practices Act and other related US legislation.
We then submitted the combined bid, a summary of the work program and fiscal terms of which are attached, but were shortly thereafter informed by Chairman Abankwa that if we did not accept the third-party carry of five percent (5%) that another company, the Norwegian company Aker, had already agreed to do so and would be awarded the block.
Later, the then Minister of Energy informed Anadarko representatives that the block had indeed been awarded to another company, without explanation as to the respective strong points of the bids in play.
Indeed, there was no transparency whatsoever in the entire bid process. We never received a formal written notification that our bid had failed, and it was to our dismay that we learned later that Aker, had indeed been awarded this extremely complex, deepwater block. According to the press and other public sources, we learned that the Aker bid also included a third party for five percent (5%).
WE WERE UPSET AND SERIOUSLY CONSIDERED AT THAT TIME ALERTING THE HIGHEST LEVELS OF THE US GOVERNMENT AND ASKING THEIR INTERVENTION, BUT THE GHANAIAN PRESIDENTIAL ELECTION WAS UPON US AND WE DECIDED THAT THIS ISSUE MIGHT PERTURB THE DEMOCRATIC PROCESS, WHICH WE STRONGLY SUPPORT.
Now that the election is over, WE ARE CONFIDENT THAT YOU, MR. MINISTER, WILL WISH TO REVIEW THE BID PROCEDURES AND PROCESSES OF THE AWARD OF ULTRA DEEPWATER TANO BLOCK. AFTER SUCH REVIEW, YOU WILL UNDOUBTEDLY NOTICE THAT THE COMBINED BID OF HESS AND ANADARKO, TWO WORLD-CLASS DEEPWATER OPERATORS WITH SUCH A STRONG COMBINED BID, WOULD HAVE BEEN IN GHANA’S BEST INTEREST.
Please accept, Mr. Minister, the expression of our most sincere respects.
Ian J Cooling Vice President Business Dev’t & on behalf of Anadarko International Energy Company HESS 24 February 2009
…FROM THE GNPC MANAGEMENT TO MINISTER OF ENERGY (MARCH 9, 2009) HON. DR. JOE OTENG-ADJEI MINISTER FOR ENERGY MINISTRY OF ENERGY ACCRA
RE: ANADARKO
Dear Sir,
In response to the allegation we first want to give a background of GNPC’s relationship with Anadarko. Kosmos on 17/02/06 introduced Anadarko to GNPC Board as their proposed farm in partner. The Board at that time interrogated Anadarko to ascertain their financial and technical capability.
At the meeting, the Board, acknowledging Anadarko’s deepwater experience, asked whether Anadarko was going to be the operator of the Kosmos block, to which they answered no, and that they were just going to be partners with Kosmos being the operator. The meeting ended after further discussions.
The Board after the meeting, requested Management of GNPC to undertake due diligence on Anadarko. When Kosmos submitted a formal application for farm in into their block by Anadarko, the Board approved the application and recommended same to the Minister after which a farm in agreement was executed.
WHEN THE JUBILEE FIELD OIL GAS DISCOVERY WAS MADE IN JUNE 2007, AND AUGUST 2007, IT BECAME CLEAR THAT THE TWO FINDINGS WERE IN THE SAME RESERVOIR AND THEREFORE REQUIRED UNITIZATION OF THE APPLICATION OF THE FIELD. THIS IS WHERE THE PROBLEM STARTED WITH ANADARKO.
Anadarko, realizing the enormous potential of the discovery, BEGAN TO IMPOSE THEIR STRENGTHS AS A BASIS FOR BECOMING THE OVERALL OPERATOR WHICH, IN THE ABSENCE OF THE MUTUAL UNDERSTANDING OF THE PARTNERS, THE PA DOES NOT CONFER ON ANADARKO.
AT ONE TIME THEY JOINED TULLOW TO MARGINALIZE KOSMOS UNTIL THEIR ATTENTION WAS DRAWN TO THE FACT THAT IT WAS KOSMOS WHO BROUGHT THEM INTO THE BLOCK AND THAT KOSMOS WAS THE OPERATOR. AT ANOTHER TIME ANADARKO TRIED TO SEEK THE SUPPORT OF KOSMOS TO UNSEAT TULLOW AS THE OPERATOR. THESE MACHINATIONS OF ANADARKO HAVE GONE ON TILL EVEN TODAY.
It was at a meeting in London in early 2008 when Anadarko started to prove difficult again for the partnership as they initially found fault with the Tullow leadership that after the meeting the Chairman, MD and Director of Operations called the representative of Anadarko, Provost Chuck to an informal discussion.
During the discussion, GNPC tried to understand the position of Anadarko and encouraged Anadarko to play ball with the other partners in order to get the POD ready in good time. It was at this meeting that the Chairman suggested to Anadarko that GNPC could consider them for a block of their own in future, where they will become their own operators.
A block with good prospects that became vacant later on was the Vanco relinquished area. When this area was declared open, a number of companies including Aker, Sonangol of Angola, Atlas, Hess, and Anadarko applied for the block.
At a point the Board thought that the area was big enough to be divided amongst the deserving applicants. However, the Technical Dept. after studying the area advised that only the Western portion was worth considering since the Eastern portion falls in the ultra deepwater area where technology is not yet fully available.
EACH OF THE APPLICANTS CAME TO SEE MANAGEMENT TO DISCUSS THEIR PROPOSALS, AND WERE EACH REQUIRED TO HAVE A GHANAIAN PARTNER SINCE THAT WAS THE NEW POLICY OF GNPC AND THE MINISTRY OF ENERGY.
ANADARKO INITIALLY INDICATED THAT THEY WOULD NOT BE ABLE TO SECURE A LOCAL PARTNER BUT WOULD GIVE IT A FURTHER CONSIDERATION. WE ARE INFORMED THAT THEY LATER INTRODUCED MR. KEN OFORI ATTA OF DATA BANK AS THEIR LOCAL PARTNER SUBJECT TO DUE DILIGENCE.
Aker also introduced Chemu as their local partner. Of all the companies that had applied, the three, Aker and Anadarko/Hess and Sonangol were considered the most qualified.
In the case of Hess, in addition to not having a local partner, the application was declined on the grounds that they had a block in the same basin which they were yet to drill.
With regard to Sonangol our position was that it was an National Oil Company (NOC) coming from a country which was oil rich and we thought they could delay the exploration work, and so that was declined.
The two companies remaining were Aker and Anadarko. In terms of financial and technical capabilities the two companies were found to be almost at par and GNPC would be indifferent as to which of them was eventually awarded the block.
The Board in trying to be fair to both made a proposal to the two companies to consider joining and putting in one application with Anadarko being the operator so that the Board would recommend the award of the block to the two companies jointly. This proposal was made knowing that as an industry practice risks are shared and for such a deepwater block whichever company was awarded the block would farm out part of the block to reduce/share the risk.
THE LOCAL REPRESENTATIVES OF THE TWO COMPANIES WERE INFORMED OF THIS POSITION AND REQUESTED TO COMMUNICATE WITH THE PRINCIPALS AND REPORT BACK TO US. THE FEEDBACK WAS THAT ANADARKO WAS NOT INTERESTED IN THE JOINT AWARD WITH AKER; AKER ON THE OTHER HAND WAS PREPARED TO MEET ANADARKO FOR DISCUSSION.
Since the Board was not successful in getting the two companies to agree to work as partners, a decision had to be made as to which company was to be awarded the block.
The Board met to deliberate on the issue and based on the following factors decided to award the block to Aker
*(a) Technical and financial consideration………Both companies were found to be at par
*(b) Local partnership……Both companies were prepared to comply
*(c) At this stage the factors that separated the two were the following:
*(i) The Board thought there were relatively too many American companies in the basin, namely, HESS, Kosmos, Anadarko and Vanco. While there were only two European companies – Tullow and Vitol. The decision was to spread and therefore favoured Aker.
*(ii) The Norwegian Government’s support to Ghana in restructuring the oil and gas industry together with their support for training of Ghanaian staff and the keen interest of Norwegian Ambassador in GNPC affairs became a plus in favour of Aker.
*(iii) On a previous occasion when Hess Corporation competed with Norks Hydro, a capable oil and gas company, from Norway, for a block in the deep Tano, GNPC recommended the block to HESS for the reason that HESS Corporation applied first, all other things being equal. On this occasion the two companies had agreed on joint ownership of the block, it was the issue of who became the operator which could not be resolved. Norks Hydro withdrew because it was not appointed the operator in the work on the block.
With this background and in order not to give any impression to the Norwegian Government that GNPC and therefore the Ghana Government were biased against them, Aker was selected. So far as we are concerned these were the factors that Management considered in allocating the block.
Sir, the above represents the state of affairs in connection with the award of this block.
We want to take this opportunity to brief you and justify the introduction of the Ghanaian partnership requirement.
IT WAS AT ONE OF OUR OIL AND GAS CONFERENCES THAT WE ATTENDED IN LONDON, IN APRIL 2007 THAT A PAPER WAS DELIVERED WHICH STRONGLY RECOMMENDED TO AFRICAN COUNTRIES TO ARRANGE LOCAL PARTICIPATION IN THE ACTUAL OIL AND GAS OPERATION NO MATTER HOW SMALL THE PARTICIPATION WOULD BE. THE REASON ADDUCED WAS THAT NORMALLY WHEN THE OIL FIELDS PRODUCED TO CERTAIN LEVELS, THE FIELDS WERE ABANDONED BY THE FOREIGN OIL COMPANIES. WHEN THERE IS A LOCAL PARTICIPATION HOWEVER THE PARTNER MIGHT CONTINUE TO PRODUCE THIS MARGINAL FIELD WHICH BY LOCAL STANDARDS MIGHT BE CONSIDERED PROFITABLE.
SUCH ARRANGEMENTS LEAD TO FULL MAXIMIZATION OF THE FIELD, AND THIS IS WHAT PERTAINS IN NIGERIA AND THE NORTH SEA OIL AND GAS FIELD. WHEN THIS WAS REPORTED TO THE BOARD, IT WAS CONSIDERED INTERESTING AND USEFUL AND SO THE BOARD ADOPTED IT AS A POLICY. IT WAS AFTER THIS THAT THE POLICY OF ASKING FOR GHANAIAN STAKE WAS IMPLEMENTED.
We also provide as an attachment, the comparative fiscal summary and work program of Anadarko/Hess and Aker for your perusal.
Yours faithfully,
M.O. BOATENG MANAGING DIRECTOR March 09, 2009 Encl:
ANADARKO AND AKER ASA APPLICATION FOR TANO DEEPWATER COMPARISON
Application/Proposals Hess & Anadarko Aker ASA & Chemu Power
Date Applied July 2008 June 2008
Area South Deepwater Tano South deepwater Tano
Acreage Size 2,700 sq.km 3,583 sq km
Participation Interest 50/50 95/5 .....................................................................
Proposed Work program Initial Exploration Period: (3 years)
HESS & ANADARKO * Acquire 2,700 km 3D Seismic * One (1) Well (minimum depth 1,200 m below seabed or 100m into Albian
* Minimum Expenditure: US$70 million
No Relinquishment
AKER ASA & CHEMU POWER * Acquire 1,500 sq km full-fold 3-D seismic data
* Acquire 1,000 km of Electromagnetic (EM) data.
* Drill 1 Exploration Well
* Minimum Expenditure: US$70 million
No Relinquishment ....................................................................
Proposed Work program: First Extension Period:
HESS & ANADARKO * No seismic acquisition
* Drill One (1) well (minimum depth 1,200 m below seabed or 100m into Albian)
* Minimum Expenditure: US$30 million
25% Relinquishment
AKER ASA & CHEMU POWER * Acquire 800 km of 2-D seismic data
* Drill One (1) Exploration Well
* Minimum Expenditure: US$50 million
40% Relinquishment ....................................................................
Proposed Work program: Second Extension Period:
HESS & ANADARKO * No seismic acquisition
* Drill One (1) well (minimum depth 1, 200 m below seabed or 100m into Albian)
* Minimum Expenditure: US$30 million
AKER ASA & CHEMU POWER * Reprocess existing seismic data where required
* Drill 1 Exploration Well
* Minimum Expenditure: US$50 million ....................................................................
Proposed fiscal terms:
HESS & ANADARKO Royalty: 4% (Oil): 3%(Gas)
Income Tax: 35%
GNPC Carried Interest: 10%
Additional Interest: 5%
AKER ASA & CHEMU POWER Royalty: 10% (oil); 5% (Gas)
Income Tax: 35%
GNPC Carried Interest: 10%
Additional Interest: 15% ....................................................................
AOEs Rate of Return Thresholds AOEs AOEs
12.5% 5% 10%
17.5% 10% 12.5%
22.5% 15% 20%
27.5% 20% 30%
SURFACE RENTALS US$/sq. km US$/sq. km
Initial Exploration Period 30 30
First Extension Period 50 50
Second Extension Period 75 75
Development/Production Period 100 100
Training Allowance/year US$1,000,000
Technology Support US$2,000,000 | > BACK to TOP < |
_____________________________________________________ ----- | | Wednesday, 03 February 2010 | - Nana Addo Is Too Old…Alan Is More Vibrant- Kwabena Agyepong - Mass resignations hit Obuasi NPP leadership - NPP risks losing 2012 elections...Alan - Father impregnates daughter - An Unfolding Saga ANADARKO vrs GNPC - Police Arrest "Sakawa" Lynchers - Bawku gets military barracks - Anger Brews In Ghana’s Military Contingent! - Young Ladies Could Have Been Used As “Laptops” - MP - Uproar over NIB property sale | | | Archived News for 2010 | Go to 04.02.2010 Go to 02.02.2010 Go to 01.02.2010 Go to 31.01.2010 Go to 30.01.2010 Go to 29.01.2010 | | Your REPORT Your STORIES * Your PHOTOS PUBLISH NOW! | 
| | All about the Ghana Election 2008 | | | 
| | | | * 03.02.2010 | Police Arrest "Sakawa" Lynchers * Source: NorthernGhana.com | Police personnel on local peace keeping mission in the Bunkpurugu/Yunyoo district have arrested three suspects for attempting to lynch three travelers from Accra-Amasaman to Garu-Tempane District in the Upper East Region. The suspects Yakubu Silim, 42, Seidu Issifu also 42 and Balam Dabri 38 all natives of Bunkpurugu/Yunyoo district are in police custody in Tamale.
According to the Northern regional police command, the suspects were arrested in Nakpanduri for attempting to lynch occupants of a BMW saloon car with registration number GT 1716T travelling from Accra-Amasaman to Garu-Tempane in the Upper East Region. But for the timely intervention of the Nakpanduri police, Nana Seth 32, Francis Bekoe 38 and Bismarck Osei 22 occupants of the said BMW saloon car which was burnt to ashes were nearly stoned to death by the arrested three suspects. According to Ebenezer Tetteh, Public Relations Officer to the Northern regional police command residents of the area suspected the victims to be “Sakawa†spiritualists which nearly culminated into their untimely death.
“In an attempt to control the rioters, some five police men were assaulted with their official vehicle damaged, Ebenezer Tetteh emphasized.
ACP Awuni Angwubutoge, northern regional police commander said the suspects will soon be charged and arranged before court and reiterated the police service’s commitment to flush out miscreants in certain parts of the region whose activities create security threat to area.
The Bunkpurugu/Yunyoo district lately has recorded the highest crime rate in the Northern region with specific references to the recent burning of 35 households in the area and the activities of jailed break notorious Armed Robber Johnson Kombiat and his accomplices whose activities have affected the socio-economic wellbeing of residents of the district. | Anger Brews In Ghana’s Military Contingent! * Source: Daily Searchlight | THERE is growing anger within the ranks of the two officers and forty-eight men of Ghana’s Peacekeeping contingent in Abidjan in Cote D’Ivoire, over the decision by their Contingent Commander, Brigadier General Kusi to hijack their feeding contract for one particular caterer.
This follows an earlier decision taken by the contingent to transfer their feeding contract from the original caterer to a new caterer in the light of the feeling in camp that they are getting a raw deal from the caterer.
Speaking to this newspaper yesterday, representatives of the soldiers based in Abidjan said that for quite some time now, they have been paying part of their feeding allowances into one pool to be given to a single caterer to cater to their needs.
They said that for several months now, however, they have come to the realization that they were being fed substandard rations, and in spite of numerous complaints, the caterer has refused to change her ways.
The soldiers said that in this direction, they went for a meeting several days ago to take a resolution to abrogate the contract with the old caterer, which was coming to an end, in favour of a new caterer, which was supposed to take effect this month.
“Imagine our shock when Brigadier General Kusi called us last week and insisted that the contract should be reverted back to the old caterer because she is the friend of some powerful people,” the aggrieved soldiers said.
According to one soldier, the Commanding Officer in the person of Col Hagan solved the problem and told us to look for our own caterer.
“We settled for the caterer of Ghana’s Ambassador but the Contingent Commander came from no where and insists we go back…why?”
They stressed, they did not have any contract with the old caterer but met her cooking for the previous contingent but “we want our own caterer”
The soldiers warned that they would not allow the abuse of their rights by the caterer.
“We are paying this woman, and so she cannot be forced down our throats if we do not want her.
We are calling on the military authorities to ensure that she is removed and a new caterer found for us at the earliest opportunity!” they said. | Young Ladies Could Have Been Used As “Laptops” - MP * Source: PeaceFM | The Member of Parliament (MP) for Bimbilla in the Northern Region, Dominic Aduna Bingab Nitiwul, has waded into the controversy generated by the allegation that some ladies who embarked on the trip to Angola were used for sexual purposes aside cheering the Black Stars on to victory, by stating that it is highly possible for high ranking officials to sexually exploit young women, as a result of what he witnessed in Angola during the African Cup of Nations.
According to the NPP MP, the kind of dress styles he saw and young ladies jumping out of flashy big cars at the airport, was clear evidence that young ladies were objects of sex at the tournament. “It was overwhelming as they were in “apuskeleke” dresses exposing their private parts,” he said.
He was however, emphatic that he has no evidence of such things occurring regarding the government sponsored 450 delegation sent to Angola to rally support for the Black Stars.
"If it is about the trip to Angola involving the government sponsored contingent, there was “no iota of truth” in that. “But" he said, if it was about a general advice to ladies, she was absolutely right.
Hon. Ntiwul argued that the way the trip was arranged, it would be very difficult for such a thing to have happened, referring to the alleged statement on sexual exploitation of young women on board the government sponsored trip to Angola. “It would have been very difficult to say that someone was used as “handkerchief” or a companion. Maybe the (sexual) services would be rendered back in Ghana after the favour of travelling to Angola,” he added.
He was commenting on what his colleague MP for Evalue-Gwira, Hon. Catherine Afeku, reported said in Parliament on Tuesday, about sexual exploitation of young ladies, in an interview with Adom Fm.
“I am sure something like that could have happened. He pleaded that Catherine Afeku should not be taken out of context but he supported in the fight to save young ladies from sexual exploitation. | | > BACK to TOP < | Uproar over NIB property sale * Source: fighana.com | A move by the National Investment Bank (NIB) to sell off eight landed properties located at prime locations and 24 official vehicles has raised concerns from some staff and banking sector analysts as to what the rationale behind the sales could be. **
The landed properties consisting of story building suitable for offices in such prime locations as Tesano, East Legon, Labone, North Kaneshie, Odorkor Government Residential area, Kokomlemle and East Legon have all been offered on public tender, with bidders expected to drop in their bids before February 15, 2009.
The bank is also scheduled to open tenders for the company vehicles that includ bullion vans and other vehicles meant for official assignments tomorrow,* *Tuesday February 2, 2010.
To the disappointment of some staff of the bank, some of the properties on offer, houses certain departments of the bank, and the *Financial Intelligence (FI)* has been told, there is not yet a clear communication to staff as to which particular office these departments will be transferred to.
Whilst the bank’s Tesano property housed the General Services and Purchasing Department, the East Legon property used to be the bank’s only training centre.
In another twist, the new management of the bank under Dr Percival Alfred Kuranchie is reported to have halted branch expansion projects initiated by the previous administration.
New branch facilities at Dansoman and Tarkwa which were almost ready for occupation are said to have been sold off to competitors.
Displeased staffs confided in the *Financial Intelligence* that “these two locations are very strategic as they could attract several prime customers in view of the huge business growth potential of these areas.
*FI’s* checks revealed that HFC Bank would be the new occupiers of the Dansoman edifice.
Our sources at the bank further hinted that the bank was gearing up for a massive retrenchment exercise as a frantic attempt to cut down the bank’s operation cost. It has also been suggested that the bank could be exploiting ways of shoring up its liquid capital.
The measures, insiders believe, are all part of austerity measures being pursued by the bank’s management to scale up profitability and enhance liquidity.
In what the *FI* describes as extremists view, some informants held to the view that the new management could be exploiting ways of returning some of the landed properties to their original owners, who had sold them under distress, or had used them as collateral to obtain credit from the bank, but could not pay back such loans, causing the bank to confiscate them.
It is believed that some of these people who have found themselves in privileged positions now, having close relations in management will want to take advantage of current management and low prices on the mortgage market to get back their properties back at far cheaper rates, causing double jeopardy to the bank. Whilst some banking analysts believe the bank could be selling off these properties to improve upon liquidity ratios in line with demands by regulators of the banking sector, others noted that its was not timely. Bright Simons of IMANI Ghana observed that the economy in general and the mortgage industry has hit trough, a reason why most construction projects in the metropolis have slowed. “From this point in time, prices can only get better,” he said, adding that “it would not be prudent to sell a productive asset at this time.”
Even though he agreed that branch expansion is not a priority for banks at this point in time, he observed that owning a new branch at “growth pole” and peripheral areas such as Dansoman could be helpful.
He mentioned that most banks are for now concentrating on improving their efficiency ratios.
FI’s inquisitions about these happenings at the bank are yet to receive any response.
The bank has been at the centre of controversy since its former manager, Daniel Gyimah, was cited in a financial loss of $60 million to the bank last year. Mr. Gyimah was alleged to have unilaterally entered into an agreement with Eland International Ghana in which he used NIB as a guarantor by issuing 30 promissory notes valued at $60,000,000. The notes were to mature on January 29, 2009. * Eland International Ghana contacted IROKO Securities Company in London and discounted the $60,000,000 promissory notes to $45,000,000 cash, but after the date, the notes did not mature and there was still no payment to IROKO.
The bank has since stated that the fraud should have been easily detected by Iroko Company and the investors who purchased the promissory notes, for which reason the bank stated with all emphasis that it does not consider itself culpable or liable for any losses that any investor may incur under the promissory notes.* | | > BACK to TOP < |
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