Tullow Ghana Limited and the Ghana Navy have signed a Memorandum of Understanding for the contracting of a Ghanaian Navy vessel to provide security services at the Jubilee and TEN oil fields.
The vessel, which has been acquired for the Ghana Navy with funding from the GCB Bank, will provide asset protection in the Exclusive Economic zone (EEZ) in the TEN and Jubilee fields.
Tullow Ghana and the Jubilee Partners will provide a total of a $23.5million during the five-year (5 year) contract period.
The five-year contract commenced on 1st January 2022 and will run until 31st December 2026.
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. We believe that this will further strengthen the relationship between Tullow Ghana and the Ghana Navy”.
Chief of the Naval Staff, Rear Admiral Issah Yakubu 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”.