Ghana's decision to seek arbitration in a dispute with Ivory Coast over an oil-rich basin in the Atlantic could prove costly for the country and a consortium led by Tullow if a court halts development there.
The International Tribunal for the Law of the Sea will rule on Saturday on Ivory Coast's February request for a moratorium on activity in the basin. The decision is part of legal proceedings on a maritime border dispute sought by Ghana's President John Dramani Mahama in September.
Although many expect the dispute to be ultimately settled in Ghana's favor, analysts say a ruling that prevented the $4.9 billion offshore TEN oil and gas field opening in mid-2016 would be a further blow to the battered Ghanaian economy.
