The government of Ghana has initiated a legal action to seize the assets of Lushann-Eternit Energy, technical managers of the Saltpond Offshore Producing Company, which has been engaged in crude oil production at the Saltpond Oilfields.

The action follows a controversy over an oil storage vessel which went missing last Friday. The vessel, MV Asterias, carrying nearly 74,000 barrels worth 2 million dollars was discovered in Nigerian waters seven days after it left the production platform at the Saltpond oil field.

It has now emerged that the owners of the vessel, which had been hired for the storage of oil, made away with the cargo for non-payment of freight charges plus interest amounting to nearly 2 million dollars.

A representative of the Saltpond Offshore Producing Company told Joy FM that the vessel owners, Messrs Ocean & Oil Limited of Nigeria later informed them of their decision to seize the crude oil in lieu of payment of their charges.

The out-going Energy Minister, Albert Kan-Dapaah told a press conference today that the government holds Lushann-Eternit Energy Ghana, technical managers of the project, responsible for the loss of the cargo.

Ever since the disappearance of the ship, questions have been asked about the security network in the country which failed to intercept the ship before it left Ghanaian waters.

Mr. Kan-Dapaah explained that the Ghana Navy and the Ghana Airforce dispatched boats and an aircraft to search for the ship. The ship set sail at about 10pm on Friday, whilst the Ghana Navy dispatched boats at about 11pm (the time that word got to them on the missing ship). The Ghana Airforce was only called in on Saturday when the Navy could not locate the ship.

The Saltpond Offshore Producing Company is a joint venture between the Ghana National Petroleum Corporation and Lushann-Eternit Energy (Ghana), a subsidiary of Lushann-Eternit Energy of Nigeria which is also a subsidiary of Lushann International Energy based in the U.S.