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Tullow optimistic about Ghana, Cote D’Ivoire oil dispute

  • SOURCE: | qwesa2big
  • oil

    Tullow Oil Ghana Limited has expressed optimism that an amicable resolution of the long standing maritime boarder dispute between Ghana and Cote D’Ivoire would be ar- rived at by June 2014.

    This optimism, according to Tullow Ghana’s General Manager, is due to the commitment of both parties to find an amicable solu¬tion to the dispute which has raged on for a while now.
    Ghana, who was the first to strike oil in the jubilee field has since last year been in contention with Cote D’Ivoire over which country owns the C100 maritime space area; an oil rich field that lies between the two West African nations.
    Ghana was thought to have exclusive rights to the oil rich area until April 2013 when Cote D’Ivoire announced its discovery of an oil block off its coast and ad- jacent Ghana’s jubilee field. Efforts by both countries to lay claims to the oil rich C100 maritime space resulted in various meetings in 2013; though no concrete conclu¬sions were arrived at.
    According to conclusions at previous meetings in 2013, the last two meetings which are geared towards arriving at an amicable conclusion were scheduled for January and March 2014 in Abi
    djan. The two parties set June 2014 as the date to conclude the matter.
    Some legal practitioners have however indicated that the issue under contention was a complex one that required a cross national trans-boundary committee to address the concerns of both countries to prevent any further escalation. Kofi Abotsi, a law lecturer at the Ghana Institute of Management and Public Admin- and oceanographers to respond to ib istration (GIMPA) Law School, the challenge being mounted by b therefore called on government to,without any delay, put together a crack team of lawyers, geologists and oceanographers to respond to the chalenge being mounted by Ivory Coast for the oil-rich C100 a maritime space.

    The area under contention is said to have an estimated two billion barrels of oil reserves and another 1.2 trillion cubic feet of natural gas. With a current emer¬gence of African nations into the
    league of oil producing nations, both parties involved would be hoping to boost their oil produc¬tion with the acquisition of the said area.

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