Oil production from Tullow Oil’s offshore Tweneboa, Enyenra and Ntomme (TEN) field in Ghana is expected to hit full output capacity of 80,000 barrels a day by 2020, a local manager has said last week.
TEN, with reserve estimates of 240 million barrels of oil and associated gas of 60 million barrels, produces around 56,000 barrels currently, Tullow’s External Affairs Director, Cynthia Lumor, told reporters in Accra.
Tullow held back work at TEN, its second operation in the West African country, for nearly two years due to a maritime border dispute between Ghana and Ivory Coast.
“Since the ruling, we’ve added one more well adding up to eleven, and we will be drilling more to boost production towards plateau in 2020,” Mrs. Lumor said, adding that, Tullow needed to drill 24 wells to complete the project.
Kosmos Energy, Anadarko Petroleum Corp, Ghana National Petroleum Corp and Petro SA also have stakes in the TEN project, which poured its first oil two years ago. The consortium also operates Ghana’s flagship 120,000 barrel per day offshore Jubilee oil field, which came onstream in late 2010 with reserves estimated at 800 million barrels.
Tullow Ghana Limited (TGL) with it partners have invested approximately $15.6 billion in Ghana over the decade. This Comprises $2.5 billion in exploration and appraisal, and $ 13.1 billion in development and production.
Mrs. Lumor, said, “As Operator of the Jubilee and TEN fields and the leading oil and Gas Company in Ghana, Tullow has made significant contributions to the country’s socio-economic development.
She listed tax and royalty payments, supply of up to 200 bcf of gas from the Jubilee Field at no cost to drive power generation, training and capacity building for local oil and gas professionals, increasing indigenous participation in oil and gas contracts, indirect economic benefits to complementary industries, and socio-economic investments in Western Regional communities and nationwide.
Mrs. Lumor stressed that TGL is keen to explore additional exploration opportunities and given its experience operating in Ghana for more than a decade, the company is knowledgeable about the geology of the area and well positioned for additional exploration.
“TGL wants to operate in Ghana beyond Jubilee and TEN. After operating successfully for over a decade, TGL is better informed than most IOCs on exploration and development in Ghana and this puts us in good stead to leverage existing opportunities to expand our operations in Ghana,” she stated.
She also emphasized TGL’s Shared Prosperity philosophy which is based on the belief that a country’s hydrocarbon resources can be a catalyst for host country economic development in parallel with creating value for shareholders.
Investing in skills training and capacity building for oil and gas and other industries, local participation and socio-economic investments were identified as some of the key pillars of that philosophy.
The engagement with the CSOs and NGOs is part of a TGL transparency campaign to educate key stakeholders on the oil and gas industry and provide updates on the company’s activities.
