The Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) in Hamburg, Germany, has rejected Côte d’Ivoire’s request that Ghana be ordered to suspend all oil exploration and exploitation in the disputed zone including the Tweneboa, Enyenra, and Ntomme (TEN) project, Tullow Oil (LON: TLW) said in a news release.
Development work on the TEN Project continues. Tullow said the project is more than 55% complete with all 10 of the wells expected to be online at first oil already drilled. The project remains within budget and on schedule with first oil expected in mid-2016.
ITLOS has ordered a number of provisional measures which both Ghana and Côte d’Ivoire are required to comply with. These include continued cooperation until ITLOS gives its decision on the maritime boundary dispute which is expected in late 2017, the release said.
Tullow said it is not a party to this arbitration process and will now await a decision by the government of Ghana on how it will implement the provisional measures order.
The Jubilee Field is completely unaffected by this arbitration.
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