The Energy Minister has explained that government’s decision to reach a settlement with US firm Kosmos Energy was taken in the best interest of the country. According to Dr. Joe Oteng-Agyei, the decision to end all criminal or civil proceedings against Kosmos was taken after government came to the conclusion that the protracted dispute could reverse the gains made so far in attracting investors. He told Joy Business the decision clears the way for Kosmos to mobilize resources for the development of the country’s oil reserves. “We moved [guided by] the principles that the president set for us – that all investors are welcome into this country provided they comply with our laws and respect our people. Number two is that Ghana respects the right of all investors even as they enter into this country and that is precisely what we’ve done,” he explained. Kosmos Energy in a statement announcing the settlement added that it has also reached an agreement with the Ministry of Environment, Science and Technology for the waiver of a 40 million Ghana cedis fine imposed on it for three environmental accidents between December last year and March this year. Source: Joy Business/Ghana