Oil firm in Ghana, Ivory Coast dispute crossfire

Tullow Oil

Tullow Oil

from RUSSELL ADADEVOH in Accra, Ghana
ACCRA, (CAJ News) – TULLOW oil, the United Kingdom-based company, is caught in the middle of a maritime boundary dispute between Ghana and Ivory Coast.

It was reported recently Côte d’Ivoire has applied for provisional
measures to be ordered in Ghana’s maritime boundary dispute, which is in arbitration before a Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) in Hamburg.

This arbitration was commenced by Ghana in 2014 in an effort to resolve a dispute with regard to the maritime boundary between the two countries.

provisional measures application includes a request that ITLOS orders Ghana to suspend ongoing exploration and exploitation operations in the disputed area in which the TEN project is situated until ITLOS gives its full verdict which is expected towards the end of 2017.

Tullow understands that a decision on this application for provisional measures should be handed down before the end of April.

Tullow’s advice from external counsel is that Ghana has a strong case under international law that the current boundary location, which follows an equidistance line, will be upheld by ITLOS in accordance with the Law of the Sea Convention to which both states are party, officials said.

Aidan Heavey, Chief Executive Officer of Tullow Oil, said Tullow had long had interests in and strong relationships with both Ghana and Ivory Coast and had conducted its operations in both countries in line with its obligations.

“Although the arbitration process allows for an application of provisional measures, it is our view that it is in the best interest of all parties that the TEN project continues to move ahead without delay and unencumbered by legal tactics of this nature.

– CAJ News

Short URL: http://cajnewsafrica.com/?p=4514

Posted by on Mar 2 2015. Filed under Energy, Featured, Finance, Finance & Banking, Oil & Gas. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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