The level of activity in the exploration of oil around Cape Three Points offshore the Western Region has slowed due to the ongoing maritime border dispute between Ghana and neighbours La Cote d’Ivoire, a Deputy Minister of Energy has admitted.
Mohammed Amin Adam said government cannot pretend the dispute has not had any toll on exploratory activities.
He said some major oil firms have either had to suspend further exploration or completely shied away from exploration due to the ongoing trial.
The International Tribunal of the Law of the Sea (ITLOS) is expected to give judgement on the case in September.
The two countries filed oral submissions in February, 2017.
The adjudication of the case in court followed failed attempts by the two countries to mutually agree in a series of negotiations.
Speaking on TV3’s Business Focus on Monday, Mr Adam insisted: “To say that [the dispute] is not affecting us is not true.”
He cited how oils firms at the Tweneboa, Enyenra, Ntomme (TEN) oil filed had to stop further drilling due to the court case.
He said hopefully oil drilling will increase from the current 50,000 barrels of oil per day to over 76,000 if the ruling favours Ghana.
Already, Tullow Oil has given indication that it will drill more oil wells after the dispute.
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