10 Must-Know Facts About the Saltpond Oil Field Decommissioning Saga – Insights from Bright Simons

1. The Cost of Decommissioning
   Ghana has already spent nearly $100 million attempting to decommission the Saltpond oil field, with no clear success in sight.
2. Hans & Co: The Mystery Contractor
   Hans & Co, the company leading the decommissioning, operates under a shroud of mystery with limited public information about its expertise.
3. Hans Group’s Influence
   Hans & Co is part of the Hans Group, chaired by Ms. Gloria Bartels, a high-society figure with ties to the former first lady’s charity events.
4. Ensol and TSB’s Exclusion
   TSB-Ensol, a consortium with decades of experience in decommissioning oil fields, was sidelined after being awarded a $3 million project management contract.
5. GNPC’s Financial Role
   The Ghana National Petroleum Corporation (GNPC) provided financial mobilisation to Hans Group to lease the drillship Trident VIII for the decommissioning.
6. Dubious Expertise
   Hans & Co has no publicly established background in petroleum or offshore environmental engineering, raising questions about their selection.
7. The Saltpond Oil Field’s History
   The oil field has been unproductive for decades, generating less than $10 million in revenue during its 55 years of operation.
8. Connections to Agripetco and PFI
   Analysts allege PFI, which managed the field after Agripetco in 1984, left funds for decommissioning that were never utilized.
9. Ms. Bartels’ High-Society Status
   Hans Group’s Executive Chair, Ms. Bartels, is a socialite with media presence in glamour magazines and a strong UK-Ghana network.
10. A $200 Million Cleanup
    The cleanup costs could climb to $200 million, over 20 times the revenue generated by the field during its lifetime.

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