Despite the decline in the prices of crude oil, Tullow Oil Plc is still proceeding with its production activities in Ghana, Group Chief Executive Officer, Mr Aidan Heavey (photo), said. “Oil prices always move up and down but this time round, it has been a dramatic decline for the company but we are focused on key projects in Ghana,” Heavey told Ghanaweb.

The oil company has witnessed the decrease in its shares on the stock market but it is still determined to continue production activities in the Jubilee and (TEN) oilfields in Ghana.

 “Our focus is on time and budget for all our projects in Ghana.” Aidan said describing the TEN project as one of the biggest in the world adding that the company was committed to making sure that the TEN project was executed on time and on budget.

Whilst Highlighting the impact of the continuous decline in crude oil prices on the global market on his two-days working visit to Ghana , Mr Heavey said the oil industry cannot not continue to operate successfully around $50 or less per barrel. “Even Saudi Arabia is operating at a negative. There are $760 billion worth of projects on hold because it is uneconomic to function at $50 per barrel,” he said.