Strategic Oil and Gas Resources, (StratOil) the company involved in a $5 million deal with MODEC a Japanese company has given strong indications it will take legal action against individuals who are frustrating their “legitimate business.”

The company received an installment as part of the amount after it offered consultancy services in the preparation of tender for supply of an FPSO to the consortium involved in developing the Jubilee Field.

StratOil, owned partly by ex-GNPC boss Tsatsu Tsikata is at the center of a disagreement following reports of IFC and World Bank investigations into circumstances under which it won the contract.

Former Deputy Energy Minister, K.T Hammond has also implored government to constitute investigations into the deal.

But the company is unimpressed with what it says are attempts to “misrepresent facts concerning the agreement between MODEC and StratOil and the due diligence process of equity and debt financiers of the FPSO.”

A statement issued by the company on Wednesday July 28 and signed by Stuart Sutton-Jones, Corporate Affairs Executive said the company will take “legal steps” to protect its “legitimate business.”

“It is a matter of great satisfaction to StratOil that the company could play a part in enabling the tremendous achievement of MODEC in winning a highly competitive tender and in supplying this FPSO within a time frame which is a record in the industry for such a deep water project.

“It is beneficial to the Jubilee project and to Ghana that the MODEC bid was a low-priced bid that met the highest technical standards in the industry and that is enabling first oil from the Jubilee field to be achieved in the 4th quarter of this year,” the statement added.

  By Citifmonline.com