- August 18, 2022
- Posted by: Amos Ekow Coffie
- Category: Economics
Founder of mPedigree, Mr Bright Simons has said that Aker Energy should not blame the war in Ukarine for its decision to postpone submission of a development plan for its Pecan oilfield off Ghana.
In his view, Aker was in no position to raise funds for Pecan.
“It is looking like it is not only Ghana which can use ‘Ukraine war’ as a perfect explanation when it needs to get out of tight spots. Everyone knows Aker was in no position to raise funds for Pecan. Or is that too cynical a take?” The Vice President of Imani tweeted.
This was after Aker announced the postponement of the submission of a development plan amidst concern the project could face sanctions over the war in Ukraine due to the involvement of Russian oil firm Lukoil.
reported that Aker Energy owns 50% in the deepwater block off Ghana where the Pecan field is located, while Lukoil holds 38%, q has 10% and Fueltrade 2%.
Aker ASA Chief Executive Oeyvind Eriksen in a call with analysts Wednesday said the partners will not submit a development plan to Ghanaian authorities until the challenges have been resolved, Reuters reported on Wednesday August 17.
Russia invaded Ukraine in February in what it called “a special military operation”, prompting unprecedented Western sanctions on Moscow and a breakup of economic relations.
“We are continuing a dialogue with Lukoil and Ghanaian authorities about possible solutions”, Eriksen told Reuters, adding that one option was for Lukoil to divest from the project.