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TEN project within budget and on schedule

fps  Lead operator on the Jubilee oil field Tullow has assured that the Tweneboa, Enyenra and Ntome (TEN) project remains within budget and on schedule.
Following a ruling by the International Tribunal for the Law of the Sea (ITLOS) that Ghana should not start any new exploration and exploitation in a disputed area between Ghana and Ivory Coast, there are fears that it will affect the budget and delivery of first oil.In a statement issued by Tullow however, it assured that “development work on the TEN Project continues. The project is now over 55 percent complete with all 10 of the wells expected to be online at first oil already drilled.”

ITLOS however said Ghana may proceed with on-going oil exploration projects in the disputed area.

ITLOS has ordered a number of provisional measures which both Ghana and Côte d’Ivoire are required to comply with; including continued cooperation until ITLOS gives its decision on the maritime boundary dispute which is expected in late 2017.

Tullow is not a party to this arbitration process and will now await a decision by the Government of Ghana on how it will implement the provisional measures order.

Tullow oil stressed that “the Jubilee Field is completely unaffected by this arbitration.”

The TEN project is expected to augment the oil production on the Jubilee field which is currently around 100 to 110 barrels a day.

Former Deputy Energy Minister, K. T Hammond has strongly advised government to stay clear off opening any diplomatic channels on the side aimed at amicably solving the maritime dispute between Ghana and Ivory Coast.

Some have suggested that while the hearing of the case is still on-going, Ghana should be open to other diplomatic channels to resolve the matter so as to prevent any dire repercussions.

“I think we should shut firm all back channels of solving this matter and it shouldn’t be open at all,” KT Hammond has cautioned.

Source : http://citifmonline.com/2015/04/27/ten-project-within-budget-and-on-schedule/#sthash.XJAEh6g1.dpuf

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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