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Ghana set for oil production gains

  |   May 31, 2013 at 6:06 AM
LONDON, May 31 (UPI) -- The government of Ghana approved a development plan for an offshore oil installation that will start production as soon as 2016, Tullow Oil announced.

Tullow said Ghana issued its formal approval for the development of the offshore Tweneboa-Enyenra-Ntomme, or TEN project.

"This is an important project that will give Ghana its second major offshore development," Tullow Oil Chief Executive Officer Aidan Heavey said in a statement.

TEN is designated for the Tano project about 35 miles off the coast of Ghana. It's about 18 miles from the giant Jubilee oil field. Tullow said last month that a test of its floating production, storage and offloading associated with Jubilee indicates a capacity of more than 125,000 barrels of oil per day.

The TEN project should deliver first oil by 2016. At its peak, it would produce about 80,000 bpd. Development includes plans for as many as 24 wells connected to an FPSO moored in deep Ghanaian waters.

Oil companies ranging from Italy's Eni to U.S. explorer Hess Corp. have announced recent successes offshore Ghana. French supermajor Total said a discovery offshore Ivory Coast might be connected to the basin housing Jubilee.

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