An oil dispute could break out between Ghana and neighboring Ivory Coast if immediate steps are not taken to redefine the boundaries between the two nations.
Ivorian authorities have been meeting with some oil companies in Ghana ordering them to stop their operations.
Ivory Coast is reportedly laying claim to portions of the huge oil wealth in the deep waters of the Western region of Ghana.
In the new development, Ivory Coast is laying claim to much of Tullow Oil’s Jubilee, Tweneboa, Enyenra and Owo discoveries, among others, plus the West Tano-1X find and several prospects.
Joy News checks indicate that even though talks between Ghana and Ivory Coast have not been concluded, Ivory Coast now plans to develop its own gas processing infrastructure, ostensibly duplicating proposals advanced by Ghana.
Officials at that country’s oil company Petroci unveiled a controversial map last week that redraws the maritime border between the two nations, which have been in long-running talks over the disputed area.
Meanwhile, the Jubilee Partners have already raised concerns about the boundary problem.
Texas-based oil explorer, Kosmos Energy has expressed fears about the development.
The oil producer says the future of a portion of its license in the Deepwater Tano Block is uncertain as the issue remains unresolved.
Kosmos fears it may lose some of its license if changes are made to the maritime boundary demarcation between Ghana and Ivory Coast.
Uncertainty remains with regard to the outcome of the boundary demarcation between Ghana and Côte d’Ivoire and we do not know if the maritime boundary will change, therefore affecting Ghana’s rights to explore and develop its discoveries or prospects within such areas.