The Government of Ghana has won an arbitration case against Tullow Ghana Limited over a US$393.09 million tax assessment issued by the Ghana Revenue Authority (GRA).
According to a statement issued by Finance Minister Dr Cassiel Ato Forson on Wednesday, September 30, 2026, an arbitration tribunal constituted under the International Chamber of Commerce (ICC) Rules of Arbitration dismissed all claims brought by Tullow.
The tribunal also upheld the GRA’s tax assessment in full.
It ruled that the assessment did not breach Ghana’s Petroleum Agreements and that the penalty imposed by the GRA was properly applied.
The tribunal further found that the assessment was not time-barred and that the GRA’s enforcement action was lawful.
Dr Forson commended the Office of the Attorney-General, the GRA and Ghana’s external legal counsel, Foley Hoag LLP, for defending the country’s position.
He said the ruling reinforced the government’s position that all companies operating in Ghana, regardless of their size, must comply with the country’s laws.
The Finance Minister, however, said Tullow remained an important partner to Ghana and the country’s largest petroleum producer.
He noted that its operations in the Jubilee and TEN fields contribute to energy security, domestic gas supply and livelihoods.
Dr Forson said the government had been engaging Tullow on resolving outstanding tax matters before the tribunal issued its decision.
He said those discussions would continue, including on issues covered by the ruling and separate proceedings over the disallowance of loan interest.
Dr Forson said the government would work with Tullow to implement the arbitration award in accordance with Ghanaian law.
He added that this would be done while ensuring continuity of operations in the Jubilee and TEN fields.
Read the statement below:
