Business News of Wednesday, 26 February 2025
Source: www.ghanawebbers.com
The Ministry of Energy and Green Transition has withdrawn the unitization directive between Springfield and ENI Ghana regarding the Afina-1X Discovery and Sankofa Oil Field.
The decision, announced on February 25, 2025, follows legal advice from the Attorney General and a review of the July 2024 Arbitral Tribunal ruling, which found procedural flaws in the directive.
The Tribunal ruled the directive unlawful, citing a lack of statutory triggers and arbitrary participation allocation. ENI and Vitol successfully contested it, arguing the absence of reservoir connectivity. The withdrawal allows Ghana to reassess its approach while ensuring legal compliance.
The Ministry reaffirmed its commitment to an investor-friendly petroleum sector and may issue new directives if necessary for efficient resource development.