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Kosmos Updates Ghana & Côte d’Ivoire Maritime Boundary Arbitration

Source: www.gulfoilandgas.com 4/27/2015, Location: Africa

Kosmos Energy announced that the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) has issued its order in response to the provisional measures requested by the Government of Côte d’Ivoire in its ongoing maritime boundary dispute with the Government of Ghana.

Importantly, ITLOS rejected the request that Ghana suspend all ongoing exploration and development operations in the disputed area in which the Tweneboa, Enyenra, and Ntomme (TEN) project is situated until ITLOS gives its decision on the maritime boundary dispute, which is expected in late 2017. ITLOS ordered Ghana to suspend new drilling in the disputed area.

Kosmos 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. However, we fully expect TEN development activities will continue as planned.

The project is now more than 55 percent complete with all of the wells expected to be online at first oil already drilled. First oil is expected in the second half of 2016.

Andrew G. Inglis, chairman and chief executive officer, said: “We are pleased the TEN project can continue, and we remain confident that the boundary, as it has been drawn and respected by both Ghana and Côte d’Ivoire for over four decades based on the principle of equidistance, is both factually and legally correct, and will ultimately be sustained in this arbitration. It is also important to note that the provisional measures granted do not affect the Jubilee field.”

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