Tullow Oil to increase West African production by 50%
The company said the increase is a result of Ghana's operated Tweneboa Enyenra Ntomme (TEN) development
“What you see next year is a substantial turning-point because our capital budget will go from $1.9bn down to $1.2bn so the outlay is gone down by $700m and the production is going up by 50% which will take us over 100,000 barrels a day (b/d). It is very critical project for the company”, Tullow Oil’s COO Paul McDade said 28 October on the side lines of the Africa Oil Week in Cape Town. The project is on schedule and budget to deliver first oil in mid-2016, three years after the 300m barrels of oil equivalent development was approved by the government of Ghana. The project’s total estimated gross cost is almost $5bn. The FPSO vessel will begin its journey from Singapore in December 2015 and
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