The field located on Ghana’s Deepwater Tano Block according to appraisal reports contains over 200 million barrels of oil.
At peak production the field is expected to produce 76,000 barrels of oil per day.
According to GNPC development of the field will begin this year.
Tullow one of the partners early on revealed it will sell 50 percent stake of its shares on the block.
Proceeds from the sale according to Tullow will be used to fund some of its exploration projects in Africa and elsewhere.
Other partners in the TEN projects are Kosmos Energy, Anadarko Petroleum, Petro SA and GNPC.
According to the CEO of GNPC Nana Boakye Asafu-Adjaye development of the field will help the country attain higher production.
He made the assertion at the fourth Ghana summit oil, gas, power conference and exhibition which took off on Tuesday, the 23rd April, 2013.
The Ghana Summit Oil, Gas and Power Conference & Exhibition continues today and will see key addresses from the CEO’s of Ghana national gas company, VRA, PetroSA GNPC and a host of others.
The three day conference and exhibition which is reputed to be one of the most established and prestigious conference for networking and debate in the oil and gas sector is expected to unite international and regional experts, key decision makers, contractors and service providers.
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