Minority spokesperson on Energy K.T Hammond has dismissed claims that Saturday’s ruling by the International Tribunal for the Law of the Sea on the maritime dispute between Ghana and La Cote d’Ivoire will hinder further exploitation of oil by Ghana.

According to him, the ruling does not in any way affects Ghana’s oil exploitation plans in the near future.

“We haven’t lost anything at all, it will not affect any projection and it will not be a hindrance to any drilling of wells in the future.

“Because I do understand that the companies doing the drilling currently do not intend doing anything beyond what we have now and we should be happy,” the Adansi Asokwa MP told Citi FM Monday .

The International Tribunal for the Law of the Sea Saturday directed Ghana to continue with ongoing oil projects in the disputed area.

However, the Tribunal ordered that: "Ghana shall take all necessary steps to ensure that no new drilling either by Ghana or under its control takes place in the disputed area".

Cote d’Ivoire called for the cessation of all activities, including oil exploration on the disputed maritime boundary, until the hearing of the substantive case, which is set to be settled in 2018.

Legal and technical representatives from both countries battled it out at ITLOS’s Special Chamber in Hamburg, Germany, on March 29 and 30, 2015.