Partners of the TEN Project have expressed satisfaction at the ruling on the maritime boundary dispute.
Partners of the TEN Project currently working on the development of the country’s second independent oil field have welcomed the ruling by the Special Chamber of the International Tribunal for the Law of the Sea (ITLOS).
A source, who pleaded anonymity told the Daily Graphic that members of the partnership were very happy about the outcome.
When contacted, the General Manager of Tullow Ghana, Mr. Charles Darko, said the ruling would allow the partners to continue with its budget for the first oil in mid-2016.
“Currently we are waiting for clear instructions from the government and continue to work in partnership with the government in whatever way that would benefit the country,” he said.
Mr Darko said as the lead operator of the TEN Project, Tullow Ghana would issue a statement today.
Tweneboa, Enyenra and Ntomme (TEN) project is a unitised field operated by Tullow Oil Ghana with other partners such as Kosmos Energy, Anadarko Petroleum, Petro SA and the Ghana National Petroleum Corporation (GNPC).
The TEN fields are located in the Deepwater Tano licence which covers an area of more than 800 square kilometres, and lies around 20 kilometres west of Tullow’s Jubilee Fields.
When completed, the project is expected to achieve a plateau production rate of 80,000 barrels of oil per day.
The possibility of future development of gas resources at TEN is also anticipated, following the commencement of oil start-up.
The completion is expected to increase the country’s daily oil output to close to 200,000 barrels per day.
Source: Daily Graphic