The Minister of Energy, Dr. Matthew Opoku Prempeh has announced the signing of agreements for the decommissioning of the Jubilee Field.
The agreements also includes the Jubilee Field Decommissioning Fund.
Stakeholders joining in the signing included the Ministry of Finance, Bank of Ghana, Petroleum Commission, Tullow, Kosmos, Petro SA and the GNPC, among others.
“I was joined at the Ministry by representatives of the Ministry of Finance, Bank of Ghana, Petroleum Commission, Tullow, Kosmos, Petro SA and the GNPC, among others, for the signing of agreements for the decommissioning of the Jubilee Field, including the establishment of a Jubilee Field Decommissioning Fund,” Dr. Prempeh wrote.
He noted that the successful establishment of the Fund and the effective discharge of obligations by the Contractor Parties and Trustee will ensure the availability of adequate measures for decommissioning the Jubilee Field upon reaching the end of its operational life.
This he added will address environmental, health, and safety concerns and facilitate the restoration of lands affected by petroleum operations conducted in the Jubilee Field.
“As stewards of state institutions and industry entities, we bear the responsibility to ensure the restoration of affected lands at the conclusion of the exploration and production life of an oil field, and this ceremony marks an important milestone in the realisation of this important duty to the good people of Ghana,” the minister added.
