Ghana wins $393M tax dispute against Tullow – Finance Minister

The Finance Minister noted that the award has come at a critical time when Ghana and the Jubilee partners are working to maximize the prospects of the Jubilee and TEN Fields.

He assured that government will implement the award in a way that secures the revenues due to the Ghanaian people while preserving Tullow’s ability to continue operating and investing in Ghana as a going concern.“The Tribunal found that the assessment did not breach the Petroleum Agreements, the penalty was properly applied, the assessment was not time-barred, and the Ghana Revenue Authority’s enforcement action was lawful,” the statement said.