Gulf Oil and Gas accountACCOUNT

Tullow Expects 1st Oil from Ghana TEN Field in 2016 & Uganda 2020

Source: Reuters 10/27/2015, Location: Africa

Africa-focused oil explorer and producer Tullow Oil expects its Ten Field development in Ghana to start producing oil next year and deliver significant cash flow, the company's vice president for Africa said.

Tim O'Hanlon, speaking at the Africa Oil Week conference organised by Global Pacific & Partners, also said the company was trimming capital spending in the face of depressed prices, to $1.2 to $1.4 billion next year from $1.9 billion in 2015.

He also said the company hoped to get a production license this year in Uganda, the East African country where Tullow discovered oil in 2006.

Chief executive Aidan Heavey told Reuters the company hopes to make a final investment decision on the Ugandan project in 2017 with the first oil flowing in 2020. "You need a pipeline route firmed down and then you need to get FID (final investment decision). So FID probably in early 2017 and then three years later, you would have first oil," he said. The pipeline route to move oil from landlocked Uganda to the Indian Ocean has not yet been determined.

A proposed northern Kenyan route has raised security concerns as it lies near Somalia, from where Islamist militants have launched attacks on Kenya. France's Total, also an investor in Ugandan oilfields, has said it is considering a pipeline through Tanzania as a possible way to export Ugandan oil.

Production News in Ghana >>

Egypt >>  12/10/2019 - SDX Energy Plc (SDX) is pleased to announce that it has achieved its targeted stabilised plateau production rate of 50 MMscfe/d from its operated Sout...
Norway >>  12/9/2019 - On 7 January next year, His Majesty the King will perform the official opening of the Johan Sverdrup field centre. Norway’s Prime Minister Erna Solber...

Australia >>  12/5/2019 - Senex Energy has announced that the Gemba gas field in the Cooper Basin is on production following successful tie-in to the Santos-operated gas gather...
Libya >>  12/5/2019 - National Oil Corporation (NOC) confirms that production at El Feel oil field has been interrupted as a result of an unlawful valve closure on the expo...

Iran >>  12/4/2019 - Pars Petrochemical Plant has increased its year-on-year productivity by 8% in the first 8 months of the current calendar year, which began on March 21...
Iraq >>  12/4/2019 - Gazprom Neft subsidiary Gazprom Neft Middle East B.V. has produced its three-millionth tonne of oil since starting commercial production at the Sarqal...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Ghana Oil & Gas 1 >>  2 | 3 | 4 | 5 |

Oil & Gas Projects in Ghana >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.