2 oil fields, Ghana Navy sign $23.5m offshore security pact

Tullow Ghana Limited, operator of the Jubilee and TEN offshore oil and gas fields, has signed a Memorandum of Understanding (MoU) with the Ghana Navy to provide security services at the two fields.

The security pact would enable the Ghana Navy use its own vessels to provide security for the two oil fields, a departure from previous arrangement where private vessels where used.

This follows the Ghana Navy’s acquisition of a new vessel with funding from the GCB Bank, which will provide oil and gas asset protection in the Exclusive Economic Zone (EEZ) within the TEN and Jubilee fields.

Tullow Ghana and the Jubilee Partners will provide a total of $23.5million-dollars during the five-year contract period which commenced on January 1, 2022, and it will be an operational run until December 31, 2026.

Deputy Managing Director, Cynthia Lumor, said “the Jubilee partners’ commitment to supporting the retooling of the Ghana Navy was mutually beneficial to both parties.

She said, “This partnership will ensure the protection of the Ghanaian waters by providing security services in the TEN and Jubilee fields and along the coast of Ghana. We believe that this will further strengthen the relationship between Tullow Ghana and the Ghana Navy”.

The Chief of the Naval Staff, Rear Admiral Issah Yakubu, commended the Jubilee Partners for the collaboration. He said, “Tullow Ghana and the Jubilee Partners have demonstrated commitment to sustainable production by this collaboration.”

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 said.

Credit: citinewsroom.com

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