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Ghana approves development plan for TEN Project

LONDON -- Ghana’s government has formally approved Tullow Oil’s development plan for the Tweneboa-Enyenra-Ntomme Development (the TEN Project). The approval paves the way for Tullow and its partners, Kosmos Energy, Anadarko Petroleum, PetroSA and the Ghana National Petroleum Corporation, to proceed with the development of these discoveries.

The TEN Project is in the Deepwater Tano Contract Area, 60 km off the coast of Ghana, and approximately 30 kmwest of the Tullow-operated Jubilee field. The TEN Project is expected to deliver first oil in 2016, with a plateau production rate of 80,000 bopd. Development of the TEN Project will require the drilling and completion of up to 24 development wells, which will be connected through subsea infrastructure to an FPSO vessel, moored in approximately 1,500 m of water.

Design work on the FPSO, subsea facilities and the development wells was initiated in 2011 and, following approval of the development plan, major contracts will now be finalized, and subsequently awarded. The award of these contracts will enable Tullow and its partners help expand local capability and participation in Ghana’s supply chain, particularly through the in-country fabrication requirement of the TEN Project.

Tullow is operator of the Deepwater Tano Contract Area, with an equity interest of 47.175%. Other partner interests are Kosmos Energy (17%), Anadarko Petroleum (17%), Sabre Oil & Gas Holdings Ltd, a wholly-owned subsidiary of Petro SA (3.825%), and the Ghana National Petroleum Corporation (15%).

05/30/2013

 

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