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 PLC, will provide asset protection in the Exclusive Economic zone in the TEN and Jubilee fields.
A statement said Tullow Ghana and the Jubilee Partners will provide a total of a $23.5million-dollars during the five-year (5 year) contract period.
The five-year contract commenced on January 1, 2022 and will run until 31st December 2026.
Mrs Cynthia Lumor, the Deputy Managing Director said, “the Jubilee partners’ commitment to support the retooling of the Ghana Navy is mutually beneficial to both parties.”
She said the partnership would 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,” she added.
Rear Admiral Issah Yakubu, 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.”
He said the Ghana Navy would ensure that the fulfilment of the contractual obligations to ensure a secured maritime space for the safe operation of the TEN and Jubilee fields.