According to the British oil producer, first oil has been reached on time and on budget three years after the Ghana government gave approval for the development plan of the field.
The company expects production to ramp up gradually towards 80,000 barrels of oil per day through the four months of 2016. Tullow estimates that TEN average annualised production in 2016 will be about 23,000 barrels of oil per day.
Tullow holds a 47.175 per cent stake in TEN. Anadarko Petroleum Corporation holds 17 per cent, Kosmos Energy, has 17 per cent, the Ghana National Petroleum Corporation, holds 15 per cent and PetroSA has 3.875 per cent stake.
President John Mahama inaugurates the field today August 18, 2016.
By Emmanuel K. Dogbevi