The lead operator of the Jubilee oil field Tullow Oil has announced\u00a0that the first oil from the Tweneboa, Enyenra and Ntomme (TEN) project is expected in mid 2016.<\/p>\n
“Development work on the TEN Project continues. The project is now over 55 percent complete with all 10 of the wells expected to be online at first oil already drilled. The project remains within budget and on schedule with first oil expected in mid-2016,” the oil company said.<\/p>\n
The Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) in Hamburg earlier rejected C\u00f4te d\u2019Ivoire\u2019s request that Ghana be ordered to suspend all oil exploration and exploitation activities in a\u00a0disputed zone including the TEN Project.<\/p>\n
Tullow subsequently ordered that the TEN project can move ahead after an international maritime tribunal ruled on a preliminary injunction being sought by Ivory Coast in a border dispute with Ghana.<\/p>\n
ITLOS also ordered a number of provisional measures which both Ghana and C\u00f4te d\u2019Ivoire are required to comply with; including continued cooperation until ITLOS gives its decision on the maritime boundary dispute which is expected in late 2017.<\/p>\n
In relation to the ruling given by the ITLOS, Tullow pointed out that the company\u00a0is now awaiting instructions from the government regarding implementation of provisional measures that have been ordered by\u00a0the tribunal.<\/p>\n
“Tullow is not a party to this arbitration process and will now await a decision by the Government of Ghana on how it will implement the provisional measures order.The Jubilee Field is completely unaffected by this arbitration.”<\/p>\n
Meanwhile government has welcomed the order by the\u00a0ITLOS suspending the drilling of new oil wells in the disputed West Cape Three Points area.<\/p>\n
According to a press release by the government, the ruling “carefully balances and protects the rights of both” Ghana and Cote d’Ivoire.<\/p>\n
“Ghana will be able to continue to engage in offshore exploration and exploitation if it wishes grant new concessions,” it indicated.<\/p>\n
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By: Marian Efe Ansah\/citifmonline.com\/Ghana
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