“Now somebody has to come and explain to the people of Ghana how our stake, a country that is struggling so much for money will reduce its stake from 48% to 18%. We need to understand,” he required.
Consequently, Ranking member of the Mines and Energy Committee, Adam Mutawakilu has questioned why the state’s interest in the deal will be slashed from 48% to 18%”as a result of the review of the contract.
Boakye Agarko, then Energy Minister, on 26 June 2018, wrote to the company declining the review because it was not in the interest of government.
Mr Mutawakilu said the AGM agreement signed in 2013, has been reviewed by Energy Minister, John Peter Amewu and will prove to be costly to the Ghanaian tax payer.
He questioned why the Akufo-Addo-led government is fleecing the state through the award of dubious oil contracts and review of terms inimical to the country.
“With this new agreement, the stake of the government or the state in the sharing of the oil after royalties and cost is 18%, a reduction of 30 per cent.
“There is a grand agenda by Nana Akufo-Addo to rob the people of Ghana billions of dollars with this renegotiated or amended agreement,” he said.
According to him, the Minority has a serious “reservation” to the changes which are not positive but to the detriment of the country.”
