{"id":355632,"date":"2017-09-22T15:41:17","date_gmt":"2017-09-22T15:41:17","guid":{"rendered":"http:\/\/citifmonline.com\/?p=355632"},"modified":"2017-11-10T11:12:59","modified_gmt":"2017-11-10T11:12:59","slug":"maritime-dispute-win-to-boost-ghanas-economy","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/09\/maritime-dispute-win-to-boost-ghanas-economy\/","title":{"rendered":"Maritime dispute win to boost Ghana\u2019s economy"},"content":{"rendered":"
Analysts in the oil and gas sector are anticipating a judgement in favour of Ghana at the landmark case involving Ghana and Ivory Coast at the International Tribunal of the Law of the Sea (ITLOS).<\/p>\n
The Special Chamber of ITLOS is expected to deliver its ruling on the three-year dispute between the two countries.<\/p>\n
Ghana, which took the case to ITLOS, is dismissing claims it has encroached Ivory Coast\u2019s marine borders as part of oil exploration activities.<\/p>\n
Commenting on the possible implications of a favourable judgement for Ghana, the Executive Director of ACEP, Benjamin Boakye stressed, that will be impactful on revenue mobilization from the oil sector.<\/p>\n
\u201cGhana stands to benefit significantly because we have discovered fields that can quickly go into production to improve on Ghana\u2019s production levels and that will add unto Ghana\u2019s oil revenue and add unto the budget. There are other fields that can go into,\u201d he stated.<\/p>\n
The ACEP head added, \u201cWe have about nine companies that are currently not in operations because of the case so once the judgement goes in our favour then they can go to site to commence operations.\u201d<\/p>\n