Minority warns gov’t on looming $7bn judgment debt

The Minority in Parliament has warned that the legal dispute between ENI/Vitol and Springfield Ghana may lead to a $7 billion dollar judgment debt.

ENI/Vitol challenged a decision of then Energy Minister, John Peter Amewu, for a Unitization and Unit Operating Agreement with Springfield Ghana, at the Sankofa and Afina fields.

A legal tussle subsequently ensued, with ENI/Vitol eventually initiating action in the International Court of Arbitration for 7 billion dollars against the Government of Ghana.

In this vein, the Minority has expressed worry over the development and urged President Akufo-Addo to intervene to avoid the judgment debt.

In a statement signed by a ranking member of the Mines and Energy Committee, John Jinapor indicated that the legal tussle has negative implications for attracting investment into the oil sector.

He further urged the government to do all within its powers in getting an amicable solution to the matter.

“So, the last thing the government should be contemplating is to watch their reckless decision to wilfully cause Ghanaians an avoidable judgment debt to a gargantuan tune of $7 billion.”

“The dispute with ENI requires tactful leadership, which is unfortunately not forthcoming from this government,” the ranking member warned.

Source:Starrfm.com.gh