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Thursday, November 13, 2014
Ghana is moving closer to having its second major development come onstream. According to Tullow Oil’s Interim Management statement the TEN development project is on-track and should be close to 50% complete by the end of the year.
The TEN development is made up of the Tweneboa, Enyenra, and Ntomme fields on the Tullow operated Deepwater Tano Block. Tullow’s partners on the TEN development are Kosmos Energy, Anadarko Petroleum, PetroSA, and GNPC.
Key milestones achieved over the period for the TEN development include engineering design completion, the successful dry-docking of the FPSO, the first eight wells drilled ahead of schedule versus five planned, and significant progress in manufacturing the subsea equipment. Successful completion of the first local content element of the FPSO conversion was also achieved, with the Ghanaian-made module support stools arriving on schedule in Singapore.
Due to the current timing of work plans in 2015, Tullow and partners are forecasting gross capital expenditure for the year of around $1.8 billion. The total cost of the project and capital spend to first oil remains unchanged at $4.9 billion and $4 billion respectively.
Tullow and partners are also looking to obtain governmental approvals for the drilling of additional development wells on the Jubilee field in 2015 for the next stage of the Jubilee development. In addition Tullow reported that the appraisal program for the Mahogany-Teak-Akasa (MTA), located in the West Cape Three Points Block where Kosmos Energy is the operator, is being completed and the results are being evaluated. A full field development plan for the Jubilee field and the MTA area will be submitted to the government 2015 following the completion of the evaluation.
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