Tullow Oil, the operator of the TEN project, offshore Ghana, has informed that the project is 80% complete and continues to make “excellent progress”.
In a trading statement on Wednesday, the company said the project, aimed at developing Tweneboa, Enyenra and Ntomme (TEN) discoveries, remains within budget and on schedule for first oil between July and August 2016.
The Plan of Development, to initially develop gross reserves of 300 million barrels of oil equivalent using an FPSO, and produce up to 80,000 barrels of oil equivalent per day was approved by the Ghanaian government in 2013. The total estimated gross cost of the project is $4.9 billion.
To date, Tullow said Wednesday,all the key milestones of the project have been met, with the next important event being the sailaway of the TEN FPSO from Singapore to Ghana.
The vessel is expected to depart in late January 2016 and arrive in Ghana in early March when the vessel will begin to be connected to the risers and subsea infrastructure. A gradual ramp up in production towards plateau is anticipated during the second half of 2016 as the facilities go through the final commissioning stage and wells are tied into the FPSO. Tullow estimates that TEN average working interest production in 2016 will be around 23,000 bopd gross (net: 11,000 bopd).