Tullow Oil PLC TEN delivers first oil on time and on budget (4843H)
18 August 2016 - 4:00PM
UK Regulatory
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RNS Number : 4843H
Tullow Oil PLC
18 August 2016
News Release
TEN delivers first oil on time and on budget
18 August 2016 - Tullow Oil plc is pleased to announce that
first oil has flowed from the Tweneboa, Enyenra, Ntomme (TEN)
fields offshore Ghana, to the FPSO Prof. John Evans Atta Mills.
First oil has been reached on time and on budget three years after
the Plan of Development was approved by the Government of Ghana in
May 2013.
The TEN start-up process is now well advanced and Tullow expects
oil production to ramp-up gradually towards the FPSO capacity of
80,000 bopd through the remainder of 2016. Tullow estimates that
TEN average annualised production in 2016 will be approximately
23,000 bopd gross (net: 11,000 bopd).
Tullow is the operator of the TEN fields and holds a 47.175%
stake. Tullow's joint venture partners are Anadarko Petroleum
Corporation (17%), Kosmos Energy (17%), Ghana National Petroleum
Corporation (15%) and PetroSA (3.875%).
Aidan Heavey, CEO of Tullow Oil plc, commented today,
"I am delighted that the TEN fields have reached first oil. This
is an important moment for Tullow as production begins from our
second operated development in Ghana. I thank the Government of
Ghana, the Petroleum Commission and our partners - GNPC, Anadarko,
Kosmos and PetroSA - for their support and co-operation since we
made the first discovery in 2009. I also congratulate the project
team, our contractors and sub-contractors for delivering this
project on time and on budget and with great skill and
professionalism and commend them for their commitment to the
participation of Ghanaian staff and companies in the project."
FOR FURTHER INFORMATION CONTACT:
Tullow Oil plc Tullow Ghana Citigate Dewe Murray Consultants
(London) Limited Rogerson (Dublin)
(+44 20 3249 (Accra) (London) (+353 1 498
9000) (+233 302 742 (+44 207 638 0300)
James Arnold 200) 9571) Pat Walsh
(Investors) Dinah Asare Martin Jackson Joe Heron
George Cazenove Akua Anarfi Shabnam Bashir
(Media) Twumasi
================= =============== ================ ===================
Notes to Editors
Tullow Oil plc
Tullow is a leading independent oil & gas, exploration and
production group, quoted on the London, Irish and Ghanaian stock
exchanges (symbol: TLW). The Group has interests in over 120
exploration and production licences across 22 countries which are
managed as three business delivery teams: West Africa, East Africa
and New Ventures.
Follow Tullow on:
Twitter: www.twitter.com/TullowOilplc YouTube: www.youtube.com/TullowOilplc
Facebook: www.facebook.com/TullowOilplc LinkedIn: www.linkedin.com/company/Tullow-Oil
Website: www.tullowoil.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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