A former Energy and Petroleum Minister Emmanuel Armah Kofi Buah has stated Ghana is set to witness an influx of investment into its oil and gas sector with the ITLOS ruling.
He said many companies who were not willing to invest in the sector due to the dispute will now do so without any hesitation.
“Remember, there were a lot of activities that were halted because of this court case. We believe that we are going to see a return of this investment and know that Hess is the first to come. So many other big players are ready to come now that this is settled. So we will see a very bright future for Ghana’s oil and gas industry”.
Mr. Buah also indicated companies who are already operating on Ghana’s oil fields will now be emboldened to commit more investments.
“So Ghana’s oil and gas industry is going to really continue to boom”.
The former Energy and Petroleum Minister was speaking to Skyy news moments after the International Tribunal on the Law of the Sea ruled on the Ghana and Ivory Coast maritime border dispute.
“We thank God for this very decisive decision. You know, it was a very long protracted engagement with Cote d’Ivoire. I think we got to a point where a decision was to be made to settle this once and for all”.
He said “we should look back and give President John Mahama credit for making a very important decision. You have to remember, he was very close to the President of Cote d’Ivoire and in a very good relationship. He decided that in the interest of good neighborliness, we need to settle this matter legally and make sure we can continue a very good relationship in Cote d’Ivoire.”
The Member Parliament for Ellembelle urged moderation in whatever form of jubilation in order not to injure the relationship between the two countries.
“You know for us in Nzema, we have our relatives all over in Cote d’Ivoire .They come here every day, we go there every day so there is no point for us to continue this discussion. So for ITLOS to have agreed that the equidistance method is the way to go in terms of delineation of our boundaries then it is very decisive for us”.
So for once and for all and for future generations, we and Cote d’Ivoire are going to have clear boundaries and we are going to live in peace, he noted.