GNPC EXPLODES: ‘STOP BLAMING US — SPRINGFIELD SUPPLIED THE OUTDATED DATA!
The Ghana National Petroleum Corporation (GNPC) together with its subsidiary, GNPC Explorco, have refuted the claims that they gave Springfield Exploration and Production Limited with information that was either deceptive or out of date in order to determine the value of Springfield Exploration and Production Limited’s stake in the West Cape Three Points Block 2.The two organizations replied to claims that had been spreading about since the Ministry of Energy and Green Transition had just released a press release about the subject in a statement that was published on Monday, November 24. The accusations stem from assertions that, rather of providing Sewell, the consultants, with more current assessment data from 2024, GNPC and Explorco gave them secondary data from a study that was published in 2020.The assertions were denied by Explorco and the GNPC, who said that all of the data that was utilized had been given exclusively by Springfield, as stated in the Sewell report itself. The businesses assert that Springfield failed to provide them with any information on its plans to get the value report or the data that it provided in order to accomplish that goal. The executives of Explorco and GNPC did not have control over the data that was going to be made accessible, nor did they have control over the data that Springfield gave for the appraisal. The choice to provide the report for the GNPC 2020 was made by Springfield on their own. As is clearly stated in the disclaimer, neither GNPC nor Explorco were responsible for the provision of the 2020 data, according to the statement. In response to other assertions that Ghana was previously unsuccessful in an arbitration action because of their reliance on comparable data from the year 2020, the Ghana National Petroleum Corporation (GNPC) said that the choice to offer that information was taken by Springfield alone. They emphasized the fact that neither GNPC nor Explorco had any say in the data selection process that was used to determine the value. In addition, the statement responded to a disclaimer that had been included in the Sewell report. This disclaimer brought attention to the fact that there was no raw geoscience data available and that the study had to depend on the predictions of the GNPC from 2020. Both Explorco and the GNPC made it clear that they could not be held accountable for the information that Springfield decided to provide. As a result, it is impossible for either of them to have provided or withheld the 2024 main data.
