GNPC gets a new chairman

Ghana National Petroleum Corporation has a new board chairman. Steven Sekyere-Abankwa, a professional banker, was appointed in secret several weeks ago.

Sekyere-Abankwa will retain his position as managing director of Ghana's Prudential Bank while charged with ushering in reforms to the Petroleum Code. A raft of fiscal incentives were mooted during ministry workshops last November but have not been approved by Cabinet.

Meanwhile, in a breach of normal administrative law practice, two provisional acreage awards have gone for parliamentary approval without first winning formal Cabinet sanction. Vanco Energy's deep-water deal has gone forward as has Alderney Resources' Central Basin award, backed by local mining moghul Nic Amarteifio.

Houston-based international petroleum consultant Alfred Boulos - architect of several African legislative reforms - flew in to Accra mid-week on a fact-finding mission for a consortium of potentially interested US explorers. His timing was unfortunate, however, as the ministry's director of hydrocarbons Joe Klemesu is in Houston for the Offshore Technology Conference.