Tullow Oil Plc has said that it fully supports Ghana government\u2019s position in the maritime boundary dispute between Ghana and neighboring Ivory Coast.<\/p>\n
The two countries are seeking resolution over the dispute at the International Tribunal for the Law of the Sea.<\/p>\n
According to Tullow, it believes in the defense Ghana has put forward and is, therefore, expecting a favorable ruling for Ghana.<\/p>\n
The ITLOS is expected to deliver its judgment on the boundary dispute this September.<\/span><\/p>\n Ivory Coast has accused Ghana of using the development of its oil industry to annex the territory which does not belong to it.<\/span>\u00a0<\/span><\/p>\n Ghana opted for arbitration processes at the ITLOS after several talks with Ivory Coast over the matter failed.<\/span><\/span><\/p>\n Ivory Coast requested the ITLOS to direct Ghana to suspend oil exploration in the disputed maritime area until a substantive ruling is given. <\/span><\/span><\/p>\n The court in April 2015, ordered Ghana to suspend all new drilling in the disputed area.<\/span><\/span><\/p>\n Tullow had drilled 11 wells in Ghana’s first oil field. <\/span><\/span><\/p>\n The moratorium prevented Tullow from drilling additional 13 wells.<\/span><\/span><\/p>\n A positive ruling in favor of Ghana at ITLOS will allow Tullow to resume drilling of new wells and further development of the area.<\/span><\/span><\/p>\n At a media interaction in Takoradi in the Western Region, the managing director of Tullow Ghana Oil Plc, Samuel Darko noted that the company believes in the defense put forward by Ghana during the hearing.<\/span><\/span><\/p>\n He told journalist that the matter \u201cis<\/span>\u00a0a sensitive one that I will not want to go into it, but we fully support Ghana government\u2019s position and we are working closely with them to reach a resolution on that\u201d.<\/span><\/p>\n A positive ruling in favor of Ghana will also mean more economic gains in view of the recoverable potentials the disputed area holds for oil reserves.<\/span><\/p>\n –<\/p>\n By: Obrempong Yaw Ampofo\/citifmonline.com\/Ghana<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Tullow Oil Plc has said that it fully supports Ghana government\u2019s position in the maritime boundary dispute between Ghana and neighboring Ivory Coast. The two countries are seeking resolution over the dispute at the International Tribunal for the Law of the Sea. According to Tullow, it believes in the defense Ghana has put forward and […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[3,10300],"yoast_head":"\n