Ivory Coast appeals to International Tribunal for the Law of the Sea regarding disputed maritime boundary with Ghana
(5 March 2015)
Ivory Coast has submitted a request for the prescription of provisional measures to the Special Chamber of the International Tribunal for the Law of the Sea regarding the delimitation of the maritime boundary with Ghana. Ivory Coast requested that Ghana suspend oil exploration activities in the disputed area and refrain from granting companies permission for oil exploration or extraction activities until the maritime boundary dispute has been resolved.
The action has resulted in Tullow Oil, the firm developing the TEN project in disputed waters between Ghana and Ivory Coast, losing over 200 million pounds of its market value. Ghana dismissed Ivory Coast’s claims, with Communications Minister Edward Omane Boamah saying that, “As permitted by international law, petroleum operations in the area will continue pending a speedy decision by the Special Chamber on this aspect of the case.” However, Tullow Oil now faces uncertainty until the International Tribunal makes its ruling, expected by late April.
CÔTE D’IVOIRE SEEKS PROVISIONAL MEASURES IN THE DISPUTE CONCERNING DELIMITATION OF THE MARITIME BOUNDARY BETWEEN GHANA AND CÔTE D’IVOIRE IN THE ATLANTIC OCEAN, 3 Mar 2015, International Tribunal for the Law of the Sea Press Release, http://www.haguejusticeportal.net/index.php?id=13231
UPDATE 2-Tullow falls on worries legal dispute could delay Ghana project, 2 March 2015, by SarahYoung for Reuters, http://uk.reuters.com/article/2015/03/02/tull-oil-shares-idUKL5N0W42LC20150302