Comprehensive  Ghana Oil and Gas news, information, updates, analysis

News in Brief

Saltpond Oil paid $250,750 to State – Ministry of Energy

  • SOURCE: | qwesa2big
  • The Ministry of Energy has explained that a total of $250,750.49 has been paid to the by Saltpond Offshore Producing Company Limited (SOPCL) state.

    This is in a reaction to the report of the Public Interest Account Committee ( PIAC) which stated that no revenue accruing from the oil production in the Saltpond Field has been paid into the Ghana Petroleum Fund .

    Mr. Daniel Sowa Ablorh-Quarcoo, Chairman of PIAC, had stated that despite efforts by the committee to know the activities of the Saltpond Field, there were no records  to show the revenues of the  production from the field.

    A statement issued in Accra Yesterday and signed by Edward Bawa, Head of Communication Unit of the Ministry, said the expected inflows to government form SOPCL were in  respect of surface rental and royalty  payments on crude oil liftings.

    The statement said “surface rental of $605 for 2011 is yet to be paid to government by SOPCL, however total royalties of $146,482.27 for 2011 from four liftings by SOPCL were paid into Government Non–Tax Revenue  Account (Account number 02-239600660-00)”.

    It explained that, that was an old account which royalties of  had been paid before the Petroleum Management Account was enacted last year.

    The Statement said SOPCL consequently paid $104,268.12 in respect of first quarter liftings into the Petroleum Fund (Account number 021082366).

    The ministry said as part of its effort to enhance transparency and be accountable, it would always lay bare the fact when necessary.

    “The ministry takes this opportunity to reassure all Ghanaians that it will continue to manage the oil and gas sector in a transparent, honest, and accountable  manner and therefore welcomes any suggestions and criticisms  that would foster these principles with the sector,” it said.

    It can be recalled that the Ghanaian Times on Friday May 18, 2012 published that no revenue accruing from oil production in the Saltpond Field has been paid into the Ghana Petroleum Holding Fund.


    Source: The Ghanaian Times

    Leave a reply

    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes ( with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Twitter Activity Stream

    Partners We are proud to be associated with:

    Skip to toolbar