THE Ministry of Energy has denied claims that revenue accruing from oil production at the Saltpond Oilfield is not being paid into the Ghana Petroleum Holding Fund, as required by law.
According to an official of the ministry, it was on course in its quest to ensure transparency and accountability to Ghanaians who own the oil resource.
The Head of Public Relations at the ministry, Mr Edward Bawa, was reacting to claims by the Chairman of the Public Interest and Accountability Committee (PIAC), Major Daniel Sowa Ablorh-Quarcoo (retd), which were published in the Friday, May 8 edition of an Accra daily that there was no cash flow from the Saltpond Oilfield into the petroleum fund.
Mr Bawa explained that expected inflows from the Saltpond Offshore Producing Company Limited (SOPCL) to the government were in respect of surface rental and royalty payments on crude oil liftings.
Major Ablorh-Quarcoo was quoted as saying that “despite efforts by the committee to know the activities of the Saltpond Oilfield, there were no records to show revenues in the production from the field”.
Mr Bawa, who took exception to that statement, told the Daily Graphic that total royalties amounting to of $146,482.37 for four liftings in 2011 were paid by the SOPCL into the Government of Ghana (GoG) non-tax revenue account (account number 02-230600660-00).
The account, he said, was an old one into which royalties had been paid before the enactment of the Petroleum Revenue Management Act in 2011.
The company had subsequently been advised to pay all expected government petroleum inflows into the Petroleum Fund, he added.
“Consequently, it paid an amount of US$104,268.12 in respect of first quarter 2012 liftings into the Petroleum Fund,” Mr Bawa said.
He indicated that between February 28, 2011 and March 31, 2012, the SOPCL paid to the government various sums amounting to $250,750.49 into its non-tax revenue account and the petroleum fund.
He cautioned interest groups to vigorously do background checks at the ministry and its allied bodies before going public with information that was likely to impugn the integrity of people mandated to manage the country’s oil resources.
“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 will foster these principles with the sector,” Mr Bawa said.
SOURCE: Della Russel Ocloo, Daily Graphic, May 23, 2012
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