British OIL Company Tullow has served notice its offshore oil and gas project TEN “can move ahead” after an international maritime tribunal ruled on a preliminary injunction being sought by Ivory Coast in a border dispute with Ghana.
According to spokesperson of Tullow Oil Plc, George Cazenove, the company is now awaiting instructions from the government regarding implementation of provisional measures that have been ordered by the tribunal. According to ITLOS, Ghana can go ahead to explore oil despite the dispute between it and neighbors Ivory Coast.
However, the Tribunal ordered that: “(a) Ghana shall take all necessary steps to ensure that no new drilling either by Ghana or under its control takes place in the disputed area as defined in paragraph 60.Cote d’Ivoire called for the cessation of all activities, including oil exploration on the disputed maritime boundary, until the hearing of the substantive case, which is set to be settled in 2018.
Legal and technical representatives from both countries battled it out at ITLOS’s Special Chamber in Hamburg, Germany, on March 29 and 30, 2015.
Despite the ruling Tullow Oil says production of first oil in the Tweneboah-Enyera-Ntoumme (TEN) area by 2016 will not be affected by the ruling of the International Tribunal against drilling of new oil wells in the disputed area.
According to the oil and gas exploration company, the ten wells that it has already dug, or almost completed works on, has the capacity to pour fist commercial oil by the middle of next year.
According to estimates the TEN oil fields should be able to produce about 20,000 barrels of crude oil a day from the middle of 2016 with the existing wells, and possibly move it up to about 80,000 barrels a day.
Meanwhile citi news understands the Attorney General Marietta Brew Appiah Oppong who led Ghana’s charge at the tribunal returns home today. We will keep listeners updated on any further development.
By: Richard Mensah/citifmonline.com/Ghana