The Institute of Economic Affairs (IEA) has raised concerns over the extension of Tullow Oil’s petroleum licences, urging that the deal must be ratified by Parliament.
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Speaking at an IEA roundtable, legal expert Victor Anku-Tsede stated that the extension of the West Cape Three Points and Deepwater Tano blocks, from their current expiration in 2036 to 2040, alters the original contract and requires fresh approval under Ghana’s Constitution.
He cited the Supreme Court’s 2017 ruling in Banful v. Attorney General, where even an informal “note verbal” was deemed an international agreement that required parliamentary scrutiny.
“Whether it’s called an MoU or an understanding, if it changes the legal terms of a ratified licence, Parliament must approve it,” Anku-Tsede said.
He stressed that the issue isn’t about semantics but about upholding constitutional oversight over Ghana’s natural resources. “The people’s representatives must review and, if necessary, improve the terms under which our oil resources are managed,” he added.
The IEA believes bypassing Parliament on such critical agreements undermines transparency and accountability in resource governance.
