Tullow Sells First Oil From Offshore Ghana Field…

 

  • Since the FPSO Prof. John Atta Mills was connected to the risers and subsea infrastructure, the integrated facilities have undergone final commissioning and testing ahead of the start-up sequence which begins with water injection to the Enyenra reservoir, followed by oil production.
  • Eight of the 11 pre-drilled wells have been completed, with the ninth to follow this week. Total capex to first oil is within budget at around $4 billion, with forecast capex in the second half of this year of around $200 million as drilling completions continue and equipment and vessels are demobilized.
  • UK independent Tullow Oil issued a sell tender this week for its first cargo of crude from its offshore TEN field, traders said.
  • The 650,000 barrel cargo is due to load Aug. 28-29. The tender closed on Thursday afternoon but the winner could not be immediately confirmed.
  • The grade is sweet with an API gravity of about 33 degrees, one of the sources said.
  • The TEN field is expected to come on stream in the next three to six weeks and produce an average of 23,000 barrels-per-day (bpd) gross this year, Tullow said at the end of June.* Tullow’s key asset in Ghana is the offshore Jubilee field that produced around 100,000 bpd in 2015, according to its website. (Reporting By Julia Payne)
  • However, drilling on the three TEN fields will not resume until after the resolution of the Côte d’Ivoire and Ghana border dispute through the ITLOS tribunal – a decision is expected in 2017.

 
Reference(s):

http://uk.reuters.com/article/uk-tullow-results-idUKKCN1070JB

http://www.lse.co.uk/ukMoneyNews.asp?code=d6z8ic7c&headline=BUZZTullow_Oil_sells_first_oil_cargo_from_Ghanian_TEN_field

http://www.offshore-mag.com/articles/2016/07/deepwater-ten-project-nears-first-oil-offshore-ghana.html

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About Anang Tawiah

About the author :: Anang Tawiah is a New York City based Management Consultant specializing in Investment Risk and Technology Strategy. He continues to guide many Blue chip companies and Governments as a Business and Technology Consultant. Please direct all follow up questions, concerns, request for speaking engagements and presentations regarding my articles and research to my Facebook Page listed below. You can read more of his analysis or reach him for further professional consultations and or guidance at: // Email: anang@labaddi.com // Follow me on Wordpress: www.anangtawiah.com // Follow me on Facebook: www.facebook.com/AnangTawiah

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