REG - Tullow Oil PLC - TEN delivers first oil on time and on budget <Origin Href="QuoteRef">TLW.L</Origin>

Tullow OilAnnouncement

19/08/2016 13:40

RNS Number : 4843H
Tullow Oil PLC
18 August 2016
News Release
TEN delivers first oil on time and on budget
18 August 2016 - Tullow Oil plc is pleased to announce that first oil has flowed from the Tweneboa, Enyenra, Ntomme (TEN) fields offshore Ghana, to the FPSO Prof. John Evans Atta Mills. First oil has been reached on time and on budget three years after the Plan of Development was approved by the Government of Ghana in May 2013. 
The TEN start-up process is now well advanced and Tullow expects oil production to ramp-up gradually towards the FPSO capacity of 80,000 bopd through the remainder of 2016. Tullow estimates that TEN average annualised production in 2016 will be approximately 23,000 bopd gross (net: 11,000 bopd). 
Tullow is the operator of the TEN fields and holds a 47.175% stake. Tullow's joint venture partners are Anadarko Petroleum Corporation (17%), Kosmos Energy (17%), Ghana National Petroleum Corporation (15%) and PetroSA (3.875%). 
Aidan Heavey, CEO of Tullow Oil plc, commented today, 
"I am delighted that the TEN fields have reached first oil. This is an important moment for Tullow as production begins from our second operated development in Ghana. I thank the Government of Ghana, the Petroleum Commission and our partners - GNPC, Anadarko, Kosmos and PetroSA - for their support and co-operation since we made the first discovery in 2009. I also congratulate the project team, our contractors and sub-contractors for delivering this project on time and on budget and with great skill and professionalism and commend them for their commitment to the participation of Ghanaian staff and companies in the project." 
FOR FURTHER INFORMATION CONTACT:
Tullow Oil plc 
(London)
(+44 20 3249 9000)
James Arnold (Investors)
George Cazenove (Media)
Tullow Ghana Limited 
(Accra) 
(+233 302 742 200) 
Dinah Asare 
Akua Anarfi Twumasi 
Citigate Dewe Rogerson
(London) 
(+44 207 638 9571) 
Martin Jackson
Shabnam Bashir
Murray Consultants 
(Dublin)
(+353 1 498 0300) 
Pat Walsh
Joe Heron
Notes to Editors 
Tullow Oil plc
Tullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW). The Group has interests in over 120 exploration and production licences across 22 countries which are managed as three business delivery teams: West Africa, East Africa and New Ventures. 
Follow Tullow on:
Twitter: www.twitter.com/TullowOilplc  YouTube: www.youtube.com/TullowOilplc
Facebook: www.facebook.com/TullowOilplcLinkedIn: www.linkedin.com/company/Tullow-Oil
Website: www.tullowoil.com 

This information is provided by RNS
The company news service from the London Stock Exchange
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