• 4 minutes Get First Access To The Oilprice App!
  • 7 minutes Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 11 minutes Japanese Refiners Load First Iran Oil Cargo Since U.S. Sanctions
  • 13 minutes Oil prices forecast
  • 2 hours Renewables in US Set for Fast Growth
  • 27 mins Chinese FDI in U.S. Drops 90%: America's Clueless Tech Entrepreneurs
  • 8 hours Oceans "Under Fire" Of Plastic Trash
  • 14 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 13 hours Is Natural Gas Renewable? I say yes it is.
  • 13 hours Emissions from wear of brakes and tyres likely to be higher in supposedly clean vehicles, experts warn
  • 15 hours Making Fun of EV Owners: ICE-ing Trend?
  • 50 mins Socialists want to exorcise the O&G demon by 2030
  • 5 hours Cheermongering about O&G in 2019
  • 4 hours North Sea Rocks Could Store Months Of Renewable Energy
  • 24 hours Algorithms Taking Over Oil Fields
  • 1 day Europe Slipping into Recession?
  • 1 day Nuclear Power Can Be Green – But At A Price

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…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin



Oilprice - The No. 1 Source for Oil & Energy News