LONDON--The Special Chamber of the International Tribunal of the
Law of the Sea in Hamburg has rejected a call from the Ivory Coast
for Ghana to suspend oil exploration activity in offshore territory
disputed by the two countries, exploration firm Tullow Oil PLC
(TLW.LN) said Monday.
A suspension in the disputed region would have delayed the
development on Tullow's TEN project.
"Development work on the TEN Project continues," Tullow said.
"The project is now over 55% complete with all 10 of the wells
expected to be online at first oil already drilled. The project
remains within budget and on schedule with first oil expected in
mid-2016," it added.
ITLOS has called for "continued cooperation" from the two
countries until it reaches a final decision on the boundary
dispute, which is expected in late 2017.
"Tullow is not a party to this arbitration process and will now
await a decision by the Government of Ghana on how it will
implement the provisional measures order," it added.
Write to Ed Ballard at ed.ballard@wsj.com
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