Maritime dispute: ITLOS ruling won’t affect future oil prospects – KT Hammond

The Minority spokesperson on Energy,  K.T Hammond, has dismissed claims that Saturday’s ruling by the International Tribunal for the Law of the Sea on the maritime dispute between Ghana and La Cote d’Ivoire will hinder further exploitation of oil by Ghana.

Mr Hammond told Accra-based Citi FM that the ruling will not hinder Ghana’s oil exploitation plans in the future.

“We haven’t lost anything at all, it will not affect any projection and it will not be a hindrance to any drilling of wells in the future.

“Because I do understand that the companies doing the drilling currently do not intend doing anything beyond what we have now and we should be happy,” he said.

On Saturday, the ITSLO gave Ghana the nod to continue oil production activities at a disputed maritime boundary area between it and Cote d’Ivoire.

The ITLOS, in unanimously dismissing Cote d’Ivoire’s call for the suspension of activities on the disputed maritime boundary until the final determination of their disagreement over the boundary – held that work can go on uninterrupted.

The tribunal, however, ordered Ghana not to start new drilling activity on the disputed area until the matter is resolved.

In effect, exploration and exploitation works on the Tweneboah-Enyera-Ntoumme (TEN) project, being operated by Tullow Oil Plc and its partners, can proceed.