“… let me express, again, the gratitude of our nation to all of you, and I am sure that, at the appropriate time, national honours will be duly conferred,” he said at the Flagstaff House on Thursday night, at a ceremony to celebrate the legal victory.

President Nana Akufo-Addo also said the success chalked at ITLOS in the maritime dispute, was down to the efforts of all his predecessors and not just his administration.

The Special Chamber of the ITLOS  unanimously declared that Ghana had not violated Cote d’Ivoire’s sovereign rights in its oil exploration activities after arbitration began in 2014.

“Ladies and gentlemen, this victory could not have been achieved through the action of one person, one political party or one government. It has been a collective effort, in the important role played by successive presidents, and the government should not be overlooked, discounted or understated on such an occasion as this,” the President said.

The President, who lauded all Ghana’s Presidents under the Fourth Republic; namely Jerry Rawlings, John Kufuor, John Evans Atta Mills and John Mahama, expressed gratitude to them for the roles they had played in the past and present, to ensure that the nation’s oil resources were not lost in that dispute.

“Tonight, I pay tribute to the former President of the Republic, His Excellency Jerry John Rawlings, under whose farsighted leadership, in 1983, the Ghana National Petroleum Corporation (GNPC) was established. GNPC was set up to be a strategic, commercial vehicle to help accelerate the pace for the exploration of oil and gas.”

“It was under the leadership of my former boss, the former President of the Republic, His Excellency John Agyekum Kufuor, that GNPC was restructured to ensure that it focused on its core activity of exploration, and the promotion of the oil and gas potential of the country.”

“It was in 2014 that my immediate predecessor, His Excellency John Dramani Mahama, took the courageous decision to initiate arbitration,” President Nana Akufo-Addo.

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By: Farida Yussuf/citifmonline.com/Ghana

The post ITLOS team to receive national awards – Nana Addo appeared first on Citi 97.3 FM - Relevant Radio. Always.

Ghana just came out of a three-year legal battle with her western neighbor, Ivory Coast, over the ownership of some oil reserves situated around the West Cape Three Point.

This legal battle, the Institution of Surveyors believes could emerge when a natural resource is discovered along the Ghana-Togo boundary.

[contextly_sidebar id=”yypUR6O8d1gImWmto5GRbYbrdnNqUrkN”]The Surveyors are therefore calling for an early determination of the maritime boundary between the two countries to forestall any future boundary dispute.

Speaking to Citi News, President of the Institution, Edwin Addo Tawiah, said “If we wait and find oil in Keta, which other people I understand are prospecting, there would be a problem, so in this peaceful time, let them come forward so we do it [the demarcation].”

“Even in our district administrative boundaries, people collect revenue and we don’t know which district assembly to be paid to because we have not determined our internal boundaries, and if we go to our international boundary with Togo, Cote d’Ivoire and Burkina Faso, you realize that the one with Togo is described in West…but when you go to the grounds it meanders… it doesn’t follow that straight line. So if we ask neighbours who are from Togo and Ghana, they may help show us the lines then the surveyors will take that meandering line. By so doing, then we could effectively demarcate our boundary, otherwise when we find oil or any other natural resource, it will be a problem,” he added.

Background

The suggestion from the surveyors follows Ghana’s victory at the International Tribunal of the Law of the Sea (ITLOS), in a case of a maritime boundary dispute with Ivory Coast.

In 2007, Ghana discovered oil and gas in commercial quantities, and this was followed by Cote d’Ivoire staking its claim to portions of the West Cape Three Points.

These claims were renewed in 2010 after Vanco, an oil exploration and production company announced the discovery of oil in the Dzata-1 deepwater-well.

Cote d’Ivoire petitioned the United Nations asking for a completion of the demarcation of its maritime boundary with Ghana, and Ghana responded by setting up of the Ghana Boundary Commission.

This commission was tasked with the responsibility of negotiating with Côte d’Ivoire towards finding a lasting solution to the problem.

But this commission bore no fruit, and in September 2014, Ghana dragged Cote d’Ivoire to ITLOS after 10 failed negotiations.

ITLOS’s first ruling in 2015 placed a moratorium on new projects, with old projects continuing after Cote d’Ivoire filed for preliminary measures and urged the tribunal to suspend all activities on the disputed area until the definitive determination of the case.

The moratorium prevented Tullow Oil from drilling additional 13 wells. Tullow thus drilled eleven [11] wells in Ghana’s first oil field.

But in its ruling on Saturday, ITLOS in a unanimous decision held that, there has not been any violation on the part of Ghana on Côte d’Ivoire’s maritime boundary.

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By: Godwin Akweiteh Allotey/citifmonline.com/Ghana
Follow @AlloteyGodwin

The post Demarcate Ghana-Togo border to prevent future disputes – Surveyors appeared first on Citi 97.3 FM - Relevant Radio. Always.

Côte d’Ivoire had accused Ghana of overstepping its maritime boundary in the exploration of oil at the Jubilee Fields in the Western Region.

[contextly_sidebar id=”Go1sqefn83wITSUJ4BlAPXhg4wrl8fNT”]But the ITLOS Chamber in a unanimous decision on Saturday held that, there has not been any violation on the part of Ghana on Côte d’Ivoire’s maritime boundary.

Dr. Ayine who was part of those in the helm of affairs when the case was sent to ITLOS in an exclusive Citi News interview said ITLOS became the only option because Côte d’Ivoire “kept changing the goal post.”

“In the first place, what led to the decision was the fact that in all the bilateral efforts that were made to get the Ivorian side to come round to the point where we could get a bilateral solution to the problem did not yield any fruit. We realized that they kept changing the goal post and then changing their positions now and again up to the point where we got so frustrated that we thought that we needed a third party adjudicator to put this matter to rest.”

“That is how come that my boss made the decision and advised the former President of the Republic that this was the right thing to do. So it was to prevent the situation where the bilateral processes will not lead to a negotiated settlement,” added.

He was also elated over the victory at ITLOS saying it was as a result of the “hardwork” exhibited by the team which comprised of “people from the Ministry of Petroleum, GNPC, Attorney General’s Department, Ghana Maritime Authority…led by my boss [Marietta Brew Appiah-Oppong] and the experts that she procured to assist us in the resolution of the dispute.”

Background

In 2007, Ghana discovered oil and gas in commercial quantities, and this was followed by Cote d’Ivoire staking its claim to portions of the West Cape Three Points.

These claims were renewed in 2010 after Vanco, an oil exploration and production company announced the discovery of oil in the Dzata-1 deepwater-well.

Cote d’Ivoire petitioned the United Nations asking for a completion of the demarcation of its maritime boundary with Ghana, and Ghana responded by setting up of the Ghana Boundary Commission.

This commission was tasked with the responsibility of negotiating with Côte d’Ivoire towards finding a lasting solution to the problem.

But this commission bore no fruit, and in September 2014, Ghana dragged Cote d’Ivoire to ITLOS after 10 failed negotiations.

ITLOS’s first ruling in 2015 placed a moratorium on new projects, with old projects continuing after Cote d’Ivoire filed for preliminary measures and urged the tribunal to suspend all activities on the disputed area until the definitive determination of the case.

The moratorium prevented Tullow Oil from drilling additional 13 wells. Tullow thus drilled eleven [11] wells in Ghana’s first oil field.

–

By: Godwin AkweitehAllotey/citifonline.com/Ghana
Follow @AlloteyGodwin

The post Ivory Coast’s frustrations forced Ghana to ITLOS – Dr. Ayine appeared first on Citi 97.3 FM - Relevant Radio. Always.

“There is no winner or loser of this. We are all winners because we will continue to leave in peace with one another and corporate with one another across many spheres. We took a very good way to resolve this dispute. There was no fighting, there was no quarreling, we just adjudicated at the International Tribunal and the matter by the grace of God has been settled,” he said on Saturday.

Côte d’Ivoire had accused Ghana of overstepping its maritime boundary in the exploration of oil at the West most part of the Cape Three Points.

But the ITLOS Chamber in a unanimous decision on Saturday held that, there has not been any violation on the part of Ghana on Côte d’Ivoire’s maritime boundary.

The Chamber rejected Côte d’Ivoire’s argument that Ghana’s coastal lines were unstable.

Speaking at this year’s Kundum Festival of the chiefs and people of Nsein Traditional area in the Western Region on Saturday, Dr. Bawumia  welcomed the decision describing it as good news.

“…that judgment is very consistent with Ghana’s position all along. And so we are thankful to God, we are also thankful to our brothers and government of Côte d’Ivoire…I think that on this day, it is very remarkable that we should all receive this good news,” he added.

The Kundum Festival also climaxed activities to celebrate the 50th anniversary of the enstoolment of Awulae Agyefi Kwame II as Omanhene of Nsein Traditional area in the Western region.

Don’t mock Ivory Coast

Security analyst, Dr. Kwesi Anning had earlier admonished Ghanaians to celebrate in moderation their victory at the International Tribunal of the Law of the Sea.

“it’s important for the Ghanaian side that we don’t gloat over this victory, that we don’t make too much noise and tease the other side. Victory is an emotional thing and its crucially important that we don’t make the Ivoirians feel that they weren’t good enough and that we are smarter than them. Our celebrations must be muted and we must continue to stretch a hand out to the Ivoirians that we are still friends, brothers and that we seek development in a stable, functional, collaborative, inclusive sub region,” he said in a Citi News interview.

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By: Obrempong Yaw Ampofo/ctifmonline.com/Ghana

The post Boundary dispute shouldn’t destroy Ghana, Ivory Coast relations – Bawumia appeared first on Citi 97.3 FM - Relevant Radio. Always.

Ghana dragged Ivory Coast to the Special Chamber of the International Tribunal of the Law of the Sea(ITLOS) in September 2014, after negotiations with Ivory Coast over the disputed boundary broke down.

ITLOS in its first ruling in 2015, placed a moratorium on new projects, and the directive meant Tullow had to put on hold operations including drilling in the disputed area.

But today, September 23, 2017, ITLOS ruled largely in favor of Ghana.

The special chamber ruled that there had not been any violation on the part of Ghana on Ivory Coast’s maritime boundary. ITLOS also determined a new boundary for the two countries.

Tullow in a statement copied to Citi Business News said the TEN fields were not affected by the new maritime boundary determined by the tribunal.

Tullow added that it “will now work with the Government of Ghana to put in place the necessary permits to allow the restart of development drilling in the TEN fields.

Tullow expects to resume drilling around the end of year. Tullow’s TEN field currently produces about 40,000 barrels of oil per day.

Meanwhile, the CEO of Tullow, Paul McDade, has assured that the company will continue its production in Ghana and also work with the government of Ivory Coast.

“Tullow looks forward to continuing to work constructively with the Governments of both Ghana and Côte d’Ivoire following the conclusion of this process. While the TEN fields have performed well during the period of the drilling moratorium, we can now restart work on the additional drilling planned as part of the TEN fields’ plan of development and take the fields towards their full potential,” he said.
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By: Vivian Kai Lokko/Citibusinessnews/Ghana

The post Tullow to resume TEN operations following ITLOS judgement appeared first on Citi 97.3 FM - Relevant Radio. Always.

Cote d’Ivoire, as part of reliefs put forward, asked the Chamber to order Ghana to compensate them, because in their view, Ghana benefited from a resource  in itsterritorial waters.

They had argued that “reparation by equivalence or compensation should be envisaged both for the loss of hydrocarbon production for any damage that Ghana’s activities may have caused to the rocks and deposits.”

Ghana on the other hand, argued that “it would be absurd to compensate Cote d’Ivoire for physical changes to the seabed brought about by oil production works which Cote d’Ivoire itself wants to pursue in the very same way.”

The Chamber dismissed Cote d’Ivoire’s request sustaining Ghana’s argument.

The Special Chamber, in delivering its judgement on the delimitation of the Maritime Boundary between the two in the Atlantic Ocean, also ruled that Ghana has not violated the sovereign rights of the Francophone country by exploring for oil in that disputed basin.

The Chamber rejected Côte d’Ivoire’s argument that Ghana’s coastal lines were unstable.
It also noted that Ghana has not violated Côte d’Ivoire’s sovereign rights with its oil exploration in the disputed basin in question.

Justice Boualem Bouguetaia, President of the Special Chamber in reading the judgment, accepted Ghana’s argument of adoption of the equidistance method of delineation of the maritime boundary.

Analysts say Ghana would now have to wait to see how the final map looks, once the coordinates are plotted in the sea using boundary pillar BP 55+ on a common land boundary, as starting point for drawing the new equidistance line.

In consideration of the new boundary, the Chamber determined that it starts from boundary 55 -200 nautical miles away, a position much closer to what Ghana was arguing for.

The judgement effectively means that Ghana’s oil fields are not going to be materially affected.

Ghana’s oil discovery

In 2007, Ghana discovered oil and gas in commercial quantities, and this was followed by Cote d’Ivoire staking its claim to portions of the West Cape Three Points.

These claims were renewed in 2010 after Vanco, an oil exploration and Production Company announced the discovery of oil in the Dzata-1 deepwater-well.
Cote d’Ivoire petitioned the United Nations asking for a completion of the demarcation of its maritime boundary with Ghana, and Ghana responded by setting up of the Ghana Boundary Commission.

This commission was tasked with the responsibility of negotiating with Côte d’Ivoire towards finding a lasting solution to the problem.

But this commission bore no fruit, and in September 2014, Ghana dragged Cote d’Ivoire to ITLOS after 10 failed negotiations.

ITLOS’s first ruling in 2015 placed a moratorium on new projects, with old projects continuing after Cote d’Ivoire filed for preliminary measures and urged the tribunal to suspend all activities on the disputed area until the definitive determination of the case.

The moratorium prevented Tullow Oil from drilling additional 13 wells. Tullow thus drilled eleven [11] wells in Ghana’s first oil field.

Background

In 2014, Ghana took the case to ITLOS to dispel claims it has encroached Cote d’Ivoire’s marine borders as part of oil exploration activities at Cape Three Points, off the shores of the Western Region.

Ghana’s defense held that Cote d’Ivoire was barred from demanding ownership to the disputed area it had acknowledged that Ghana owned the space without any qualms in the decades leading up to the oil discovery.

The oral hearings for the dispute were concluded in February 2017.

In 2007, Ghana discovered oil and gas in commercial quantities, and this was followed by Cote d’Ivoire staking its claim to portions of the West Cape Three Points.

These claims were renewed in 2010 after Vanco, an oil exploration and Production Company announced the discovery of oil in the Dzata-1 deepwater-well.

Cote d’Ivoire petitioned the United Nations asking for a completion of the demarcation of its maritime boundary with Ghana, and Ghana responded by setting up of the Ghana Boundary Commission.

This commission was tasked with the responsibility of negotiating with Côte d’Ivoire towards finding a lasting solution to the problem. But this commission bore no fruit, and in September 2014, Ghana dragged Cote d’Ivoire to ITLOS after 10 failed negotiations.

ITLOS’s first ruling in 2015 placed a moratorium on new projects, with old projects continuing after Cote d’Ivoire filed for preliminary measures and urged the tribunal to suspend all activities on the disputed area until the definitive determination of the case.

The moratorium prevented Tullow Oil from drilling additional 13 wells. Tullow thus drilled eleven [11] wells in Ghana’s first oil field.
–
By: Ebenezer Afanyi Dadzie/Citifmonline.com/Ghana

The post Ghana doesn’t owe Cote d’Ivoire any compensation – ITLOS appeared first on Citi 97.3 FM - Relevant Radio. Always.

Addressing the ECOWAS Parliament, the Member of Parliament for Effutu, Alexander Afenyo-Markin noted that there was an invitation on the table to Cote d’Ivoire in this regard, with the potential to give the two countries more leverage, as far as the pricing of cocoa is concerned.

[contextly_sidebar id=”CNrI7MTC7ob0Ed8uH2sYy4z4Zx0C0Dkw”]“… if Cote d’Ivoire is ready to accept an invitation by Ghana for them to share a common platform in controlling prices, because it is obvious that the international market, which is the user of cocoa, drives and determines cocoa prices and the poor farmers in our respective countries who are supposed to get the best in terms of value and in effects are shortchanged.”

“So I am quite sure that if Cote d’Ivoire is able to respond positively to such an invitation in Ghana, both countries can have a better situation than before, so over to Cote d’Ivoire,” the Effutu MP stated.

Mr. Afenyo-Markin was speaking after being sworn in as a member of the ECOWAS Parliament after MP for Akuapem South, Osei Bonsu Amoah, resigned after his deputy ministerial appointment because members of the Executive cannot be part of the ECOWAS Parliament.

Ghana and Cote d’Ivoire had been taking measures to address the price volatility of cocoa with the two countries, in April 2017, agreeing to coordinate their production strategies during a Cocoa and Coffee Council meeting in Abidjan.

The Ghana Cocoa Board (COCOBOD) and the Coffee and Cocoa Council of Ivory Coast signed an agreement in this regard.

Ghana and Cote d’Ivoire are the largest producers of cocoa in the world, accounting for over 60 percent of the global share, but the wavering price volatility has not boded well for the two countries, as they currently contend with a 10-year low in prices.

In the 2015/2016 production year, Ivory Coast produced 1.7 million metric tonnes of cocoa, with Ghana producing about 840,000 tonnes.

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By: Delali Adogla-Bessa/citifmonline.com/Ghana

The post Ghana awaiting Cote d’Ivoire to work on common cocoa pricing appeared first on Citi 97.3 FM - Relevant Radio. Always.

This agreement, according to President Akufo-Addo, will bind Ghana and Cote d’Ivoire “in even closer intimacy and go beyond the bounds of the concept of the Permanent Joint Commission, which is the conventional tool for co-operation.”

The post Ghana, Cote d’Ivoire to sign agreement for strategic partnership appeared first on Citi 97.3 FM - Relevant Radio. Always.

Forbes estimated Otumfuo’s net worth at $10 million dollars sourcing his wealth from his engagement in mining equipment, property and jewelry.

Otumfuo Osei Tutu II was ranked behind King Mohammed VI of Morocco whose wealth is estimated to be $2 billion dollars.

The Forbes report said Otumfuo after studying in the United Kingdom, worked briefly in private and public organizations in the United Kingdom and Canada before returning to Ghana in 1989 to set up Transpomech Ghana, a $12 million sales company that provides mining equipment to several large industrial companies in Ghana.

Otumfuo according to Forbes, also owns extensive real estates in Ghana and South Africa  as well as a collection of valuable gold crown jewels.

But Otumfuo’s $10 million is still peanuts compared to second place, Oba Obateru king of the Ibo Land in Nigeria with 300 million dollars.

Another Nigerian,Oba Okunade Sijuwade – the King of Ile Ife came third with an estimated net worth of at least 75 million dollars. 

While the popular King Mswati 111 of Swaziland ranked one place ahead of Otumfuo with an estimated 50 million dollars.

The research from Forbes however said the source of the wealth of the Kings excluded wealth held or controlled by the rulers in trust for their nations or territories.

By: Marian Efe Ansah/citifmonline.com/Ghana

The post Otumfuo Osei Tutu ranked Africa’s 5th richest king – Forbes Magazine appeared first on Citi 97.3 FM - Relevant Radio. Always.