President John Mahama and his Ivorian counterpart, Alassane Ouattara are reportedly close to reaching an agreement over the maritime border dispute that led to a ban on new oil drilling in the area under contention.
This is according to the news agency, Reuters.
Reuters said the revelation was made former UN Secretary General, Kofi Annan, who is the mediator for the current talks between Ivory Coast and Ghana.
Asked during a pause in the discussions in Geneva, whether the two sides were close to reaching a deal, Mr. Annan told Reuters: “Yes, we are.”
An international tribunal ruled last month that Ghana could continue developing a $4.9 billion offshore oil project in the area but imposed a ban on new drilling.
The decision by the Hamburg-based International Tribunal for the Law of the Sea was regarded as positive for Ghana and British oil firm Tullow, which leads a consortium developing the TEN field, where it has already drilled the wells it needs to start production.
The Ivory Coast’s presidency said President Alassane Ouattara left Abidjan on Sunday for the talks with his Ghanaian counterpart John Dramani Mahama.
The Hamburg tribunal did not judge the merits of the case and the court is expected to make a final ruling in 2017.
Analysts indicate that precedent suggests it is unlikely to redraw the current equidistant maritime boundary.
By: Citifmonline.com/Ghana with files from Reuters