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Tullow Ghana signs MOU with Ghana Navy for exclusive zone

1.21321624 Group photo of Naval High Command and Tullow officials

Tue, 18 Jan 2022 Source: GNA

The Tullow Ghana Limited and the Ghana Navy have signed a Memorandum of Understanding (MOU) for the contracting of a Ghanaian Navy vessel to provide security services at the Jubilee and TEN oil fields.

The vessel, which has been acquired for the Ghana Navy with funding from the GCB Bank, would provide asset protection in the Exclusive Economic zone (EEZ) in the TEN and Jubilee fields.

Tullow Ghana and the Jubilee Partners would provide a total of a $23.5million-dollars during the five-year (5 year) contract period.

The five-year contract commenced on 1st January 2022 and would run until 31st December 2026.

The Deputy Managing Director, Ms. Cynthia Lumor said “the Jubilee partners’ commitment to support the retooling of the Ghana Navy is mutually beneficial to both parties."

She added that the partnership would ensure the protection of the Ghanaian waters by providing security services in the TEN and Jubilee fields and along the coast of Ghana.

Ms. Lumor said her company believed that it would further strengthen the relations between Tullow Ghana and the Ghana Navy.

Rear Admiral Issah Yakubu, Chief of the Naval Staff, commended the Jubilee Partners for the collaboration.

He said, “Tullow Ghana and the Jubilee Partners have demonstrated commitment to sustainable production.

"The Ghana Navy will ensure that we fulfil our contractual obligations to ensure a secured maritime space for the safe operation of the TEN and Jubilee fields”, he added

Tullow Ghana Limited, is an independent oil and gas, exploration and production group which is quoted on the London, Irish and Ghanaian stock exchanges.

The Group has interests in over 40 exploration and production licences across 11 countries including Ghana, where it operates the Jubilee and TEN fields.

Source: GNA