Tullow Oil, on Wednesday, announced that the Tweneboa, Enyenra and Ntomme (TEN) project, offshore Ghana, is 80% complete and making tremendous progress.

The company stated the project which is aimed at developing the TEN discoveries, has not been affected by the decline in the prices of crude oil in the international market. It remains within budget and first oil is expected between July and August 2016.

In 2013, the Government of Ghana approved the company’s Plan of Development, to first develop gross reserves of 300 Mmboe by using a Floating production storage and offloading vessel (FPSO), and producing about 80,000 boe/d. Total gross expenditure for the project is estimated at $4.9 billion.

According to Tullow, all the important events of the project have been met, and the next in line is the departure of the TEN FPSO from Singapore to Ghana. The vessel is to set out in late January 2016 and reach Ghana in early March.

Tullow is, however, confident that the average working interest production of the project in 2016 will be around 23,000 bo/d, Offshore Energy Today reports.

Anita Fatunji