Business News Thu, 24 May 2018

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Ghana, Cote d' Ivoire ponder transboundary resource management

Ghana and Cote d' Ivoire plan to come up with ground rules for transboundary resource management.

This is to ensure the two countries have lay down procedures for optimizing exploitation of any future discovered resources that may straddle the boundary of Ghana, and Cote d Ivoire.

These are part of a communiqué issued by the two countries after a meeting on the implementation of the ruling of the Special Chamber of the International Tribunal for the Law of the Sea (ITLOS).

“Beside the seabed resources, this cooperation if well implemented will enhance maritime security, especially in the areas of illicit bunkering, piracy and hot pursuit as well as ensure the safety and peaceful co-existence of our fisherfolks,” it added.

The communiqué said the implementation stage is very critical as it will assure the investor community of the security of their investment an ensure that oil concession blocks can be given right up to the line.

“It will attract the major and super major to our deep waters environment to help make new discoveries that will increase oil output and ultimately revenue for our national development’” it said.

The two countries agreed to continue working together towards the implementation of the ITLOS ruling as well as continue further engagements within the context of the Strategic Partnership Agreement (SPA) signed by the two Heads State on October 17, 2017.

Ghana constituted a 16-member implementation committee chaired by Senior Minister Yaw Osafo-Maafo to oversee the implementation process.

A delegation headed by the Senior Minister visited Cote d Ivoire from May 14 – 15, 2018, to inform the Ivorians of Ghana’s intention to officially deposit the coordinates given by the Special Chamber of ITLOS with relevant agencies of the United Nations.

The delegation took the opportunity to revisit the SPA and reaffirmed the commitment of the two governments to cooperate in the area of exploitation and utilization of maritime resources.

Other members of Ghana’s delegation include Shirley Ayorkor Botchwey – Minister for Foreign Affairs and Regional Integration, Gloria Akuffo - Minister of Justice and Attorney General, Peter Amewu – Minister of Land and Natural Resources, Chief Director of Energy Ministry –Lawrence Apaalse, Rear Admiral Beick-Baffour of Ghana Armed Forces (Navy), Richard Addo-Darko, and Nana Adusei Poku of Ghana National Petroleum Corporation (GNPC), Francis Ackah of Petroleum Commission and Isaac Larbi of the Survey and mapping Division.

Source: thefinderonline.com

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