Government wants long-term partnership with Tullow, says Opoku Prempeh

Dr Matthew Opoku Prempeh says the government recognises Tullow’s support for the education sector; especially infrastructure and STEM education

Dr Matthew Opoku Prempeh, the Energy Minister, has expressed the desire of the NPP government to nurture and sustain a long-term partnership with Tullow Oil Ltd.

Dr Opuku Prempeh made this point during a virtual meeting with Rahul Dhir, the chief executive officer of Tullow Oil Ltd.

In attendance were Wissam Al-Monthiry, the managing director of Tullow Ghana Ltd and other leading executives of the company in Ghana.

The meeting was to enable the company formally welcome the minister to the energy sector and to formally brief him on Tullow’s operations in Ghana, their strategic direction for 2021 and beyond.

In his remarks, Dr Opoku Prempeh said, the NPP government believes in the right of individuals and entities to invest and enjoy their profits and noted that at a time when oil prospects in Ghana were considered bleak, companies like Tullow and Kosmos were prepared to undertake exploration in this country because they believed it was worth it.

He recognised the company’s support for the education sector; especially with infrastructure and STEM education.

“We want to have Tullow as a long-term partner and I am happy you want to keep investing in Ghana”, he said.

He noted further that in respect of various challenges the company had raised, he recognized the duty that they owed to their shareholders.

However, he made the point that as Minister for Energy, he owed an ultimate obligation to the people of Ghana and that he had the job of protecting their interests. “Ultimately, though, honesty and openness with each other should shorten the path to the resolution of conflicts,” Dr Prempeh added.

Tullow Oil has been in Ghana since 2006 and has invested over US$19 billion in its operations in the country. In the period, the company has paid over US$6 billion to the Government of Ghana through taxes and entitlements and plans to invest US$4 billion in its operations over the next 10 years.

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