Eni, a global leader in the energy sector, has welcomed the decision by Ghana’s Ministry of Energy and Green Transition to withdraw the Unitisation Directives issued in 2020 concerning the Sankofa oil field.
In a press statement, the Minister of Energy and Green Transition, John Abdulai Jinapor, announced the withdrawal of the directives originally mandated on April 9, 2020, October 14, 2020, and November 6, 2020.
These directives had required the two companies operating the Sankofa oil field to unitize their operations.
This decision follows a comprehensive review of the Arbitral Award (SCC Arbitration U2021/114: ENI & Vitol v. Ghana & GNPC) dated July 8, 2024, and a legal opinion from the Attorney General and Minister of Justice.
Additionally, the Ministry undertook extensive consultations and discussions with relevant stakeholders before making this determination.
While the Tribunal ruled that the directives breached the terms of the Petroleum Agreement, it did not deem the process of unitization itself unlawful.
According to the Ministry, this ruling provides Ghana with the flexibility to determine the best course of action in the national interest.
In response, Eni issued a statement indicating it “remains committed to leverage its portfolio of innovative projects, seizing new opportunities both in traditional and transition energy sector, while strengthening domestic energy security and sustainability.”
Eni’s stance on the matter reflects its ongoing efforts to play a significant role in the energy transition while advancing the development of sustainable and reliable energy solutions.
By combining technological innovation with responsible practices, Eni aims to contribute to both national and global energy sustainability goals, ensuring that its operations meet the highest standards of environmental and social responsibility.
The company looks forward to continuing its collaboration with the Ministry of Energy and Green Transition to advance the development of the Sankofa oil field and contribute to the country’s broader energy transition agenda.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
- President Commissions 36.5 Million Dollars Hospital In The Tain District
- You Will Not Go Free For Killing An Hard Working MP – Akufo-Addo To MP’s Killer
- I Will Lead You To Victory – Ato Forson Assures NDC Supporters
Visit Our Social Media for More
About Author
