• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 13 hours U.S. Presidential Elections Status - Electoral Votes
  • 9 hours And now, hybrid electric locomotives...
  • 12 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 11 hours World’s Biggest Battery In California Overheats, Shuts Down
  • 5 hours The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 3 days Los Angeles to Open Five New Natural Gas Plants to Avoid More Outages.
  • 13 hours The Painful Death of Coal
  • 6 hours Ozone layer destruction driving global warming
  • 1 day China Sees Opportunity As Venezuela’s Oil Industry Hits Rock Bottom
Editorial Dept

Editorial Dept

More Info

GHANA: Forward Movement on TEN Project

Bottom Line: Tullow gets a boost in emerging oil major Ghana, with the official green light for a massive deep-water development project encompassing its three latest discoveries, while the list of beneficiaries will include some lucrative tender winners for an FPSO and major subsea infrastructure. But watch out for the local politics here.

Analysis: The government of Ghana has approved development plans for three major Tullow Oil Plc-led discoveries, the Tweneboa-Envenra-Ntomme, or “TEN,” deep-water project. First oil from the TEN project is expected in 2016, with a production rate of 80,000 bpd. The project will include the drilling of 24 wells connected to a Floating, Production, Storage and Offloading Vessel (FPSO) via subsea infrastructure. The TEN FPSO has been in the design phase since 2011.  The TEN project is in the Tano contract area, and Tullow is the operator of the three license areas with a 47.175% equity interest. Anadarko Petroleum and Kosmos Energy each have a 17% interest, while Ghana National Petroleum Corporation has a 15% interest, and Petro SA has a 3.825% interest. The TEN project is located about 60 miles off the coast of Ghana and half that distance from Tullow’s Jubilee field, of which it is also the operator.

Recommendation: The TEN project is only Ghana’s second major offshore development. Not only would we look to Tullow right now, but also to the FPSO tenders, which will be awarded soon, now that…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News