This is at least the second time in a row that the oil company has posted a loss after tax.

For 2017, Tullow’s loss after tax amounted to 189 million dollars; this is an improvement of about 408 million dollars or 68 percent compared to the 2016 figure of 597 million dollars.

The oil company’s revenue for last year also reached 1.72 billion dollars; up from the 1.27 billion dollars recorded in the preceding year.

This means that Tullow’s revenue from its production went up by 453 million dollars or 36 percent between 2016 and 2017.

Even though Tullow recorded a loss of 755 million dollars in 2016, it managed to accrue some profits of about 22 million dollars last year.

Commenting on the company’s performance for last year, the Executive Vice President for West Africa, Gary Thompson, said,

“Tullow’s West African operations remain at the core of Tullow. In 2017, West Africa delivered over 89,000 bopd of high-margin, low-cost oil and in 2018 we will invest in Ghana to sustain this impressive performance over the coming years.”

“Drilling is due to commence on the Ntomme field by the end of this month and we continue to evaluate the business case of procuring additional rig capacity. I have been particularly pleased by the performance of the TEN fields, with production exceeding 70,000 bopd for the last three months, especially given the delays on completing the development wells which resulted from the ITLOS drilling moratorium. I look forward to similarly strong performances from Jubilee, TEN and our other West African oil fields in 2018.”

On the specific operations in Ghana, the Jubilee oilfields produced an average of 89,600 barrels of oil per day.

On TEN, Tullow is hopeful the permission to drill additional wells after the ITLOS ruling, should increase production from the current 56,000 to about 64,000 barrels of oil per day.

Tullow is also optimistic that the completion of the gas export trial to Ghana National Gas Company should allow for the export and sale of TEN gas as well as the ability to supply gas in substitution for Jubilee gas during the planned Jubilee turret remediation shut-downs this year.

–

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

The post Tullow records after-tax loss of $189m appeared first on Citi 97.3 FM - Relevant Radio. Always.

Regardless of this, she noted that her Ministry played a leading role as agent for government in the trial at the international court.

Gloria Akufo made the clarification in response to a question from Chairman of the Foreign Affairs Committee of Parliament, Frank Annor Dompreh.

[contextly_sidebar id=”V7WljK2gGCcqk8LBuakSouJFS5OMJjbR”]“Mr Speaker , ITLOS rendered a unanimous judgement on the maritime dispute between Ghana and Cote D’lvoire on 21st September 2017. The Attorney General and Minister for Justice as the principal legal adviser to government appeared as the agent for Ghana in the matter. The office of the Attorney General and Ministry of Justice is not the implementing agency of the judgement in the matter. I thank you Mr. Speaker,” she said.

The judgement

The Chamber in a unanimous decision on September 23, 2017, ruled 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. It also noted that Ghana has not violated Côte d’Ivoire’s sovereign rights with its oil exploration in the disputed basin.
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.

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.

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.
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.

–

By: Marian Ansah & Duke Mensah Opoku/citifmonline.com/Ghana

The post My office not responsible for implementing ITLOS judgement – AG appeared first on Citi 97.3 FM - Relevant Radio. Always.

According to the Deputy Minister of Energy, Dr. Mohammed Amin Adam, keeping oil blocks idle for long denies the country the needed funds for development.

[contextly_sidebar id=”YpVYDUrES3lQFgGL9TbjtjOyBizLLwVe”]He issued the warning at local content workshop in Takoradi, and stressed that the Akufo-Addo government will not hesitate to terminate contracts if minimum work obligations are not met.

“…Because of the uncertainty that our industry was faced with as a result of the ITLOS [litigation], the boundary dispute between Ghana and Ivory Coast, most companies sat back waiting for the ruling. As a result of the wait-and-see attitude, a number of them were not complying with the terms of the agreement as far as their minimal obligations were concerned.”

Given the favorable ruling that has eliminated the uncertainty, the government now expects the companies to go back to work, the Minister said.

“The government of Ghana has measures that we can take within the context of the petroleum agreement, including termination of the petroleum agreements. So we are cautioning the oil companies to go back to work.”

Dr. Amin Adams further cautioned that the inaction of the companies could affect cash inflows to the government needed to finance development projects.

“We are desirous of increasing activity upstream. When these companies are not performing we cannot increase activity. We are producing from our proven reserves and when you are depleting reserves and you don’t replace, a time will come when you have no oil and gas industry.”

“We don’t want to get to that stage, and if we have to avoid that problem, then we should be able to increase exploration activity so we can make more discoveries so we can increase production and revenue to the government,” he said.

–

By: Obrempong Yaw Ampofo/citifmonine.com/Ghana

The post Gov’t cautions companies slacking on oil exploration appeared first on Citi 97.3 FM - Relevant Radio. Always.

Speaking at the Flagstaff House on Thursday night at a ceremony to celebrate the ITLOS win, he stressed that the victory transcended partisan considerations.

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

“This victory could not have been achieved through the actions of one person, one political party or one government. It has been a collective effort, and the important roles played by successive presidents and governments, should not be overlooked, discounted or understated.”

The ceremony was attended by government officials stretching back to the Rawlings administration, under which the Ghana National Petroleum Corporation (GNPC) was first established.

President Akufo-Addo said all these people “have helped guarantee not only the possibilities of development, progress and prosperity of our country, but also that of successive generations of Ghanaians yet unborn, who will be beneficiaries of the revenues, hopefully, to be accrued from the commercial exploitation of our maritime resources and potentials.”

“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,” President Akufo-Addo added.

In 2010, the late President, John Evans Atta-Mills, set up a 10-member Ghana Boundary Commission to undertake negotiations with Cote d’Ivoire to delimit the maritime boundary.

Following this, “it was in 2014 that my immediate predecessor, His Excellency John Dramani Mahama, took the courageous decision to initiate arbitration. Through a Notification and a Statement of the claim, dated 19th September, 2014, Ghana invoked the jurisdiction of ITLOS, after ten rounds of negotiations between Ghana and Cote d’Ivoire had not yielded any result,” President Akufo-Addo said.

“In turning to the Tribunal, Ghana’s primary objective and interest was to secure legal certainty, and, thereby, bring finality to a dispute with a valued neighbour,” he said.

–

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

The post Nana Addo commends Mahama, Rawlings et al in ITLOS victory appeared first on Citi 97.3 FM - Relevant Radio. Always.

“… 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.

–

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.

Following a declaration by Ghanaian President, Nana Addo Dankwa Akufo-Addo, that the dispute and its eventual resolution had strengthened the relationship between the two neighbouring nations, the Committee has been put in place to ensure that the terms of the judgement are upheld.

[contextly_sidebar id=”yACCiua8DQ5o8i2FvfGH4lfnZHmoJs6J”]The Chamber in a unanimous decision on Saturday, September 23, 2017, had ruled 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. It also noted that, Ghana has not violated Côte d’Ivoire’s sovereign rights with its oil exploration in the disputed basin.

There were suggestions that the ruling would mar diplomatic ties between the West African neighbours, but this announcement appears to have dismissed those fears.

In a joint communique signed by Shirley Ayorkor Botchwey and Marcelamon Tanoh, Foreign Affairs Ministers of Ghana and Ivory Coast respectively, on the Ivorian leader’s recent visit, the two nations agreed to cooperate to ensure the Tribunal’s judgement is implemented.

“Both Presidents acknowledged the spirit of brotherliness with which the maritime dispute between the two countries was handled from the beginning, and in this connection, the two leaders expressed their commitment to ensure the smooth implementation of the ruling by the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) on the delimitation of the maritime boundaries between the two countries,” the communique said.

“In order to achieve this, the two leaders announced the establishment of a Joint Committee for the Implementation of the ITLOS judgement and indicated that the composition of the Committee would be decided later.”

The two leaders also expressed their commitment towards strengthening the relationship between their nations across various sectors including the economy, cocoa production, defence and transport.

“The two Presidents also agreed to meet at least once every year, alternately in each other’s country to guide and promote the implantation of the common strategic policies,” the communique added.

Nana Addo also presented President Ouattara with  “The Companion of the Star of Ghana, Honorary Division,” which is Ghana’s highest honour for a civilian in honour of his fight against social injustice and his efforts to ensure peace both on the continent and globally.

“President Ouattara expressed his gratitude to President Akufo-Addo for the very warm welcome and brotherly hospitality accorded him and his delegation in Ghana,” the statement concluded.

Below is the joint communique released by the governments of Ghana  

OFFICIAL VISIT TO GHANA BY HIS EXCELLENCY ALASSANE OUATTARA PRESIDENT OF THE REPUBLIC OF COTE D’IVOIRE

1. At the invitation of His Excellency Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana, His Excellency Alassane Ouattara, President of the Republic of Cote d’Ivoire, paid a working and friendly visit to Ghana from 16th to 17th October, 2017.

2. President Ouattara was accompanied by a high powered delegation comprising Ministers of State, members of Government and several Senior Officials. The full list of the delegation is attached as Appendix I.

3. The Government and people of Ghana warmly welcomed the Ivorian delegation in a true demonstration of the proverbial Ghanaian hospitality.

4. President Ouattara expressed his appreciation to the Government and people of Ghana for the overwhelming love and enthusiasm shown him from the moment he set foot on Ghanaian soil and indicated that his visit and that of President Akuffo-Addo’s visit to Cote d’ Ivoire in May this year was a clear manifestation of the exemplary ties between the two countries.

5. He thanked the Government and People of Ghana for the immense support and solidarity demonstrated during the Ivorian crisis and fondly recalled the crucial role played by His Excellency Nana Addo Dankwa Akufo-Addo who was then the Foreign Minister of Ghana, by taking a principled and objective stance that ensured the peaceful resolution of the crisis in Cote d’Ivoire. In this connection, President Ouattara thanked President Akufo-Addo for his personal efforts in ensuring the return of Cote d’Ivoire to the path of democracy.

7. The two Presidents held fruitful deliberations on a wide range of issues in a very cordial and fraternal atmosphere.

8. The two leaders also reviewed Ghana-Cote d’Ivoire bilateral relations, and agreed to continue to build on the existing special bonds of kinship and cooperation for the mutual benefit of their peoples.

9. To this end, both Presidents indicated their commitment to ensure the continuous deepening of brotherly ties beyond the existing framework for bilateral cooperation, such as the Permanent Joint Commission for Cooperation, and agreed to boost the
momentum of Ghanaian-Ivorian Cooperation by establishing a strategic cooperation framework referred to as the Strategic Partnership Agreement (SPA), which covers the following areas: a) Defence and Security (b) Cocoa and Cashew and other strategic crops; (c) Maritime Cooperation (d) Mining, Energy and Environment (e) Transport; and (f) Economic Policies.

10. The two leaders noted that peace and security constituted a sine qua non for development and therefore, agreed to strengthen cooperation in the area of Defence and Security to combat human trafficking, money laundering, drug trafficking and the proliferation of arms.

11. Both Presidents agreed to intensify bilateral cooperation for the development of a win-win strategy for a sustainable cocoa industry. In this regard, the two leaders expressed commitment to the ongoing discussions between the Ghana Cocoa Board and Le Conseil Café-Cacao to develop joint marketing strategies in the international trading platform and other related issues in the industry, and pledged to work together to enhance border security to curb the smuggling of cocoa.

12. Both Presidents acknowledged the spirit of brotherliness with which the maritime dispute between the two countries was handled from the beginning and, in this connection, the two leaders expressed their commitment to ensure the smooth implementation of the ruling by the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) on the delimitation of the maritime boundaries between the two countries.

13. In order to achieve this, the two leaders announced the establishment of a Joint Committee for the Implementation of the ITLOS judgement and indicated that the composition of the Committee would be decided later.

14. The two Presidents also agreed to meet at least once every year, alternately in each others country to guide and promote the implantation of the common strategic policies.

15. After two days of deliberations, the two countries signed the following Agreements:

 Strategic Partnership Agreement between the Government of the Republic of Ghana and the Government of the Republic of Cote d’Ivoire;

 Memorandum of Understanding between the Government of the Republic of Ghana and the Government of the Republic of Cote d’Ivoire for Geological and Mineral Cooperation;

 Memorandum of Understanding between the Government of the Republic of Ghana and the Government of the Republic of Cote d’Ivoire for Industrial Cooperation.

 Memorandum of Understanding for the Establishment of a Joint Technical Experts Sub-Committee for the Monitoring of Pollution from the Illegal
Mining activities in the Bia and Tano River Basins shared between Ghana and Cote d’Ivoire.

16. President Akufo-Addo bestowed the honour of “The Companion of the Star of Ghana, , Honorary Division”, Ghana’s highest civilian national honour on President Ouattara for his untiring efforts at ensuring social justice, peace and security at the domestic as well as the international level for his leadership qualities.

17. President Ouattara expressed his gratitude to President Akufo-Addo for the very warm welcome and brotherly hospitality accorded him and his delegation in Ghana.
DONE AT ACCRA THIS 17TH DAY OF OCTOBER 2017 IN THE ENGLISH AND FRENCH LANGUAGES, BOTH TEXTS BEING EQUALLY AUTHENTIC.
HON. SHIRLEY AYORKOR BOTCHWEY, MP,
MINISTER FOR FOREIGN AFFAIRS AND REGIONAL INTEGRATION OF REPUBLIC OF GHANA

H.E. MR. MARCELAMON TANOH

MINISTER FOR FOREIGN AFFAIRS OF THE REPUBLIC OF COTE D’IVOIRE

–

By: Edwin Kwakofi/citifmonline.com/Ghana

The post Ghana, Ivory Coast set up joint Committee to implement ITLOS ruling appeared first on Citi 97.3 FM - Relevant Radio. Always.

This according to him, is contrary to suggestions that the ruling would mar diplomatic ties between Ghana and her western neighbor.

[contextly_sidebar id=”nrOnk8yATbfMBLWjMI5FYuQTCVBd5B9p”]Akufo-Addo was speaking at the Flagstaff House on Monday, when he hosted the Ivorian President, Alassane Ouattara.

“We realized those delicate moments when it came to this dispute over our maritime border, but your statesmanship and your friendship and regard for the interest of our two countries made it possible for us to overcome that delicate moment and use it as a basis for forging even stronger relations between us,” Nana Addo said.

“A lot of work has been done here of technical nature which is important, but at the end of the day, the will and desire to translate the technical and paper works into the concrete decision and affect the lives of our people, for me, that is what is most important,” he added.

President Ouattara, who is on a two-day stay in Ghana at the invitation of President Akufo-Addo, thanked him for the invite and the warm reception.

He said the reception was an indication of the cordial relationship that existed between his country and Ghana.

He called for collaboration between the two countries, noting that both could collaborate in various sectors including agriculture and transport.

The judgement

The Chamber in a unanimous decision on Saturday September 23, 2017, ruled 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. It also noted that Ghana has not violated Côte d’Ivoire’s sovereign rights with its oil exploration in the disputed basin.

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.

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.

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.

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.

–

By: Jonas Nyabor/citifmonline.com/Ghana

The post ITLOS ruling has strengthened Ghana-Ivory Coast ties – Nana Addo appeared first on Citi 97.3 FM - Relevant Radio. Always.

According to its Executive Director, Ben Boakye, West African countries must take the matter of demarcating their boundaries seriously to avert negative consequences on their economies.

[contextly_sidebar id=”ls7n0BTzaz6vQQmR1BgIRInsD8IweeNT”]Speaking to Citi News, Mr. Boakye said disputes over maritime boundaries tend to deter investors who fear they may lose their investments if an unfavorable decision is taken after their dispute.

His comment comes after Ghana won a 3-year-long maritime dispute with its Western neighbours, Ivory Coast in a case where the country could have  lost major oil blocs.

“It is important that countries sign documents and define their borders clearly so that some of these conflicts do not arise. So they are not occasioned when there are discoveries of mineral resources in between countries. That also helps to improve the investment climate because if there are conflicts along borders, you don’t get anybody interested in putting in money. If there is clarity on the borders, that attracts investment,” Ben Boakye said.

He said the West African countries must document their boundaries at the International level, to avoid further conflicts.

Ghana wins ITLOS case

The Special Chamber in a unanimous decision on Saturday September 23, 2017, ruled that there has not been any violation on the part of Ghana on Côte d’Ivoire’s maritime boundary.

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

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.

–

By: Jonas Nyabor/citifmonline.com/Ghana

The post Define all boundaries to restore investor confidence – ACEP appeared first on Citi 97.3 FM - Relevant Radio. Always.

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.

Speaking on the issue for the first time, President Akufo-Addo said it was important that Ghana consolidated its gains with the judgment.

The president noted that the Ivorian President, Alassane Ouattara “is sending a high emissary to come and see me on Thursday morning… to begin to sketch out how we go from Saturday in Hamburg; what are the things that we need to do consolidate what happened in Hamburg on Saturday and then to find a way forward from then on.”

Ghana on Saturday emerged victorious in its three-year-long maritime boundary dispute with Cote d’Ivoire.

The Special Chamber of the International Tribunal of the Law of the Sea constituted to hear the dispute unanimously declared that Ghana had not violated Cote d’Ivoire’s sovereign rights with its oil exploration activities.

It also held that Ghana was not financially obligated to Cote d’Ivoire with respect to those activities to give rise to the issue of compensation.

The tribunal further rejected Cote d’Ivoire’s claim that Ghana disobeyed its April 25, 2015 preliminary orders, which directed that new wells should not be drilled in the disputed area.

–

By: Sammi Wiafe/citifmonline.com/Ghana

The post ITLOS victory: Nana Addo to meet with Ivorian officials on Thursday appeared first on Citi 97.3 FM - Relevant Radio. Always.

In a statement issued in Accra, the Chief Executive Officer of the Ninetyeightz Media, Bergis Kojo Frimpong said “Although the ruling favoured Ghana, we believe the victory is for both countries and West Africa as general”.

He commended Ghana and Cote d’lvoire for the peaceful and cooperative process they committed themselves to in settling the dispute.

He said his outfit is very happy that the two countries have been able to diffuse such a complicated security and economic threat with calm and maturity, and through cooperation and legal means, without animosity.

He therefore, congratulated Ghana and Cote d’Ivoire for a shared victory, and commended them for showcasing the true meaning of diplomacy and good neighbourliness.

While it congratulated judges of the Special Chamber and the legal and technical teams of both countries for bringing an end to the matter, the CEO of Nightyeightz Media also paid glowing tributes to the government of Ghana for the various roles it played towards the victory.

Last Saturday September 23, the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS), in a unanimous decision ruled that there has not been any violation on the part of Ghana on Côte d’Ivoire’s maritime boundary.

The Special Chamber in its ruling also rejected Côte d’Ivoire’s argument that Ghana’s coastal lines were unstable.

It also ruled that Ghana has not violated Côte d’Ivoire’s sovereign rights with its oil exploration in the disputed basin.
The dispute started since Ghana’s discovery of oil in 2007 which Ivory Coast laid claims to.

Series of failed negotiations led Ghana to file a case at the ITLOS in 2014 to rule on the delimitation of the maritime boundary between the two countries.

–

By: Philip Nii Lartey/citifmonline.com/Ghana

The post Maritime & Shipping Awards organizers laud gov’t over ITLOS victory appeared first on Citi 97.3 FM - Relevant Radio. Always.