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Renegotiated AGM Deal Still Faulty – Former GNPC Boss

Former Chief Executive of the Ghana National Petroleum Corporation (GNPC), Alex Mould, has said that the renegotiated AGM deal is still faulty.

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Former Chief Executive of the Ghana National Petroleum Corporation (GNPC), Alex Mould, has said that the renegotiated AGM deal is still faulty.

He says government had no justification to amend the petroleum agreement with AGM petroleum for oil exploration.

To him, Parliament’s decision to ratify the deal for exploration in the Deep South West Tano oil block was a bad one.

Speaking on Okay FM’s ‘Ade Akye Abia’ programme, he said AGM’s push for an amendment of the agreement which was first signed in 2013 without any major work on the block, was against international standards in the industry.

He explained that GNPC when he was at the helm of affairs, agreed with AGM to give GNPC 49% because the Corporation had invested a lot of resources in the block before handing over to AGM for oil exploration.

He questioned why the government would agree to review the deal knowing that AGM is yet to commence work on the oil block.

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