Tullow signs $23m MoU with Ghana Navy
Tullow Ghana Limited and the Ghana Navy have signed a Memorandum of Understanding (MoU) for the contracting of a Ghanaian Navy vessel to provide security services at the Jubilee and the Tweneboa Enyenra Ntomme (TEN) oil fields.
A statement jointly issued by Tullow and the Ghana Navy and copied to the Ghana News Agency, said, the vessel, which had been acquired for the Ghana Navy with funding from the GCB Bank, would provide asset protection in the Exclusive Economic Zone (EEZ) in the two fields.
It indicated that Tullow Ghana and the Jubilee Partners would provide a total of $23.5million-dollars during the five-year contract period.
The statement also noted that the five-year contract commenced on January 1, 2022, and would run until December 21, 2026.
It was stated that the Deputy Managing Director, Cynthia Lumor, said “the Jubilee Partners’ commitment to support the retooling of the Ghana Navy is mutually beneficial to both parties.”
“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,” the statement said.
“We believe that this will further strengthen the relationship between Tullow Ghana and the Ghana Navy,” it further stated.
The statement also said Rear Admiral Issah Yakubu, the Chief of the Naval Staff, commended the Jubilee Partners for the collaboration, saying “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,” the statement said.