Agreeing to share
UNESCO Courier, July-August, 1998 by Seydou Amadou Oumarou
The Dome Flore oilfield off the coast of Senegal and Guinea-Bissau, 70 kilometres southwest of the Casamance river, has caused the two countries plenty of headaches since it was discovered by France's Total company in 1960. The only known offshore oilfield within their economic zone, which is also rich in fishing resources, its reserves are put at 100 million tonnes of heavy oil and only one million tonnes of light. Clearly, the economic stakes are high.
After 16 years of legal battles and a few skirmishes in 1991, the two countries opted for a pragmatic settlement of their territorial dispute and in October 1993 signed an agreement to manage and develop their maritime resources jointly. Until then, such an outcome had seemed a remote possibility.
The earliest negotiations date back to 1977. When the two countries failed to reach agreement, they decided in 1985 to take the case to arbitration before a tribunal. Four years later the court upheld a Franco-Portuguese agreement of 1960 establishing the maritime boundary between their two colonies. But Guinea Bissau rejected this decision, arguing that the tribunal had failed to provide a map showing the exact boundary, as the two parties had requested.
In March 1991, Guinea-Bissau lodged an appeal against the decision with the International Court of Justice at The Hague. Dismissing the appeal eight months later, the Court upheld the Franco-Portuguese agreement of 1960 and asked both parties to agree on a border between their respective exclusive zones.
Guinea Bissau went along with the offer of bilateral talks and eventually accepted the Court's verdict. In 1995 the two countries set up a joint body called the Management and Cooperation Agency (AGC), for the joint development of resources located between azimuths 268 [degrees] and 220 [degrees], starting from Cape Roxo on the land frontier between the two states.
The countries agreed on an equitable shareout of fishing resources, but not of oil. In accordance with the decision of the International Court of Justice at The Hague, 85% of oil profits will go to Senegal and 15% to Guinea Bissau. If new oil reserves are discovered, the 20-year agreement will be revised accordingly.
Senegal and Guinea Bissau have realized that they are better off getting along with one another than prolonging the dispute. The battle of Dome Flore will not take place.
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Most Recent Reference Articles
- The TSA vs. Homeland Security
- Police arrested a 14-year-old boy at California's Crittenden Middle School for assault after he threw a football at another boy's leg during a football game
- A District of Columbia truancy officer stopped several students who attend a private Catholic school and asked why they weren't in school
- Britain's Office of Standards in Education, Children's Services, and Skills has proposed that parents who wish to homeschool their children be forced to undergo a criminal background check
- The death of fiscal federalism: it's been a long time since economic policy was forged in the states
Most Recent Reference Publications
Most Popular Reference Articles
- 9 questions to ask your new lover: what you were afraid to ask, but always wanted to know
- How Tyler Perry rose from homelessness to a $5 million mansion
- Emerging legal issues in sports medicine: A synthesis, summary, and analysis
- Vickie Winans: at home with the gospel star who lost 75 pounds and reenergized her career
- BEST HAIR SALONS in DALLAS, The