What is the import of ITLOS judgment?

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oil
oil

A journalist’s perspective on the ITLOS ruling.?Okay, so the import of the ITLOS judgment is now known and summarised as this: Ghana can continue with ongoing works on the disputed area but shouldn’t do NEW projects and/or drillings on the area being contested. That’s a relief to Ghana, depending, of course, on how you look at it and also a relief to C?te D’Ivoire depending, also of course, on how they look at it.
wpid-oil-300x248.pngFor Ghana, this is what it means; returns on investments in the the disputed area will not be stalled entirely as C?te D’Ivoire wanted. First oil from the TEN Project, Ghana’s biggest interest in the disputed area, and its associated revenues, the cascading effects on the national economy and value chain operators, is partially secured.
On the other hand, however, it means that Ghana’s posture of ‘we have a watertight case against C?te D’Ivoire’ has been tested firmly and softer stance at the court and back home may be necessary.
Again, it means that new investments in the areas of exploration and production will be limited, developments of new fields curtailed and most importantly, the PoD of TEN could be affected (UNLESS THE COURT INTERPRETS THE EMBARGO ON NEW DRILLINGS TO MEAN EXCLUSIVE OF THE REMAINING SIX WELLS NEEDED TO FINALISE THE TEN PROJECT PoD). This has wider implications on investor confidence, revenues and petroleum sector FDIs in general.
For C?te D’Ivoire, its the best glimpse of hope to their claim of ownership of the oil-rich area. It keeps their hopes alive and soothes their hearts as they continue to invest time and money into the case from now till 2017, when the final verdict of the case is expected.
All said, the verdict is not too unexpected as it represents an equitable stance in matters of this nature. Its simply this; if I said the sheanut tree, which Atia is harvesting and eating from, is mine, then it is only fair that the chief who is to sit on the case asks Atia to hold on to his continuous EXPLOITATION of the tree until the matter is properly determined. That’s because if the chief later finds that the tree was after all mine, then Atia would have almost depleted the fruits of the tree to which I would not be able to get a compensation in good measure.
?#?watching? from afar…,……what do u think?

Source-Culled from?Adombila JudeMarx’s facebook wall

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