Skip to main content

Nine upstream companies failed to pay US$721,199 to the state

By: Fred Yaw Sarpong- Daily Express

Nine upstream companies operating in Ghana’s oil sector have failed to pay their outstanding surface rental assessment fees in 2015 totalling about US$721,199.32.

This is contained in the published Public Interest and Accountability Committee (PIAC) report on Management of Petroleum Revenues for year 2015.

PIAC established under the Petroleum Revenue Management Act 2011 (Act 815) and among other things is to monitor and evaluate compliance with the Act by Government and other relevant institutions in the management and use of petroleum revenues and investment. 

The companies who owed the state surface rental fees since 2015 are Saltpond Offshore Production Company operating at Saltpond Field (US$605.00); Tullow Ghana Limited operating at Deepwater Tano (US$76,434.05); AGM Petroleum Ghana Limited operating at South Deepwater Tano (US$174,100.00); and Heritage Exploration and Production Company Limited operating at Offshore South West Tano (US$7,910.96).

The rest are Heritage Exploration and Production Company Limited operating at East Keta Ultra Deepwater (US$101,215.07): Brittania U operating at South West Saltpond (US$149,397.26); UB Resources Limited operating at Offshore Cape Three Point South Block (US$55,021.92); ECO Atlantic A-Z operating at Deepwater Cape Three Point West Offshore (US$47,200.00); and Sahara Energy Field Ghana Limited operating at Shallow Water Cape Three Point (US$109,315.07).

The PIAC report stated surface rental paid in 2015 amounted to about US$465,919.73 compared to US%907,051 paid by the licenced upstream companies in 2014, representing a year-to-year reduction of approximately 49%.

According to PIAC, seven licenced upstream companies paid the amount of US$465,919.73 as their surface rental fees to the state.

The companies were Kosmos (US$17,797.20), ENI Ghana EP Limited (US$22,600.00), AMNI ITNL Petroleum Development (US$13,974.00), HESS Ghana Exploration (US$150,750.00), CAMAC Energy Ghana Limited (US$73,422.50), Medea Development INTL Limited (US$78,250.00), and amount of US$109,126.03 from a company yet to be identified by the Ghana Revenue Authority (GRA).

PIAC said the GRA must initiate the process to recover with applicable penalties all outstanding surface rentals owed by the upstream companies to the government.

“Similarly, no effort should be spared to retrieve the Oranto/Stone Energy’s indebtedness to the Government of Ghana in respect of the non-payment of the 2012 surface rental of US$67,438.36 which as at December 2015 had also accumulated penalties of US$3.46 million in accordance with Section 3(4) of the Petroleum Revenue Management Act (PRMA),” said PIAC.


Popular posts from this blog

Deputy AG sues Facebooker over 'malicious' Ameri deal

The Deputy Attorney-General and Member of Parliament for Bolgatanga East, Mr Dominic Ayine has filed a defamation suit at an Accra High Court against a Facebook commentator, Evron Hughes.
In Mr Ayine’s statement of claim, sighted by Graphic Online, he accused Mr Hughes of defaming him in a post he authored and published on Facebook on December 21, 2015, titled “RE: AMERI TRANSACTION”.
According to the Deputy A-G, the “false and malicious” post has provoked “public disaffection” against him and exposed him to public ridicule and contempt.
Describing Mr Hughes as a “self-styled social media blogger and a social commentator”, Mr Ayine said the Facebook post had brought his hard-won reputation “as a respected politician, teacher and lawyer” into “hatred, ridicule, odium, discredit, contempt, opprobrium and reproach”.
The Deputy A-G said the “defamatory words” were authored with the sole intent to reduce him in the estimation of all right thinking Ghanaians, adding that he had received numerou…

Meet Ghanaian female shoemaker

The Saint Ozwald shoe brand

By: Fred Yaw SARPONG
The Daily Express

From her humble beginning in Sunyani in the Brong Ahafo region, a senior high female graduate from the Twene Amanfo Senior high in the Brong Ahafo Sunyani and a Ghanaian now boasts of being one of the most popular Made-in-Ghana shoe brands and has the most number of celebrity endorsements.
Sandra Ozwald, CEO of Saint Ozwald

After Sandrah Ozwald completed school in 2013, her parent couldn't have enough money to help her continue school so she planned to do something for herself by selling ice cream, groundnut cakes or food. Back at the senior high, Sandra used to make groundnut cakes, condensed toffees and ice cream to support herself since her mother couldn't provide all for her.

With 12 siblings and the only girl child (2nd born) among them, and whiles planning which of these to sell, Sandra attended a friend’s wedding and the grooms shoe looked so attractive to her.

According to her, the groom’s shoes were Ma…