Ghana suit: Minority accuses govt of putting out false and distorted information

The Minority has accused the government of putting out a false and distorted narrative on the $915 million laws Positively for Ghana, the Tribunal denied Claimants their monetary damages. The Claimants initially claimed 7 billion dollars, but they subsequently reviewed it to $915 million plus interest by the end of the proceedings.

The Tribunal also dismissed the Claimants’ claims against GNPC in their entirety. In addition, the Tribunal dismissed the Claimants’ request that the Tribunal declare that Ghana breached the Petroleum Agreement by “refusing to withdraw or prevent reliance by third parties on the Unitisation Directives.” The Tribunal also dismissed the Claimant’s request that Ghana notify the High Court, Court of Appeal and Supreme Court of Ghana that the Unitisation Directives were issued in breach of the Petroleum Agreement.

The Tribunal, however, found that “in the circumstances in which they were issued,” the Unitisation Directives breached the Petroleum Agreement. That is, the unitisation was contrary to the applicable regulations and thereby breached Article 26(2) of the Petroleum Agreement. Nonetheless, the Tribunal affirmed Ghana’s right to the authority to unitise oil fields to achieve efficient exploitation of the deposits.

Regarding allocation of fees and costs, the Tribunal held that since both Parties had prevailed in some ways, both Parties would be required to pay their own legal fees and costs.