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Friday, May 31, 2013
Ghana has given the partners on the TEN development located on the Tullow Oil-operated Deepwater Tano Block have been given the go ahead for the project. This will be the second major development undertaken offshore Ghana, the Jubilee Field being the first.
Production from the $6 billion project is expected to come onstream in three years’ time from the Tweneboa, Enyenra, and the Ntomme discoveries. It is expected to have a peak production rate of 80,000 bpd.
Tullow, which holds a stake of about 50% in TEN reported previously that it was looking to reduce its holding in order to raise additional capital for development.
“This is an important project that will give Ghana its second major offshore development,” said Tullow chief executive Aidan Heavey.
The partners say around $1 billion has so far been spent on appraisal work.
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