Africa-focused oil explorer and producer Tullow Oil expects its Ten Field development in Ghana to start producing oil next year and deliver significant cash flow, the company's vice president for Africa said on Tuesday.
Tullow Oil expects first oil from Ghana Ten Field in 2016
He also said the company hoped to get a production license this year in Uganda, the central African country where Tullow discovered oil in 2006.
An oil rig used in drilling at the Ngamia-1 well on Block 10BB, in the Lokichar basin, which is part of the East African Rift System, is seen in Turkana County, in this undated handout photograph. Kenya announced on March 26, 2012, its first oil discovery, saying it was found in the northern part of the country where Africa-focused British firm Tullow Oil Plc has been exploring for oil, and was now checking on the commercial viability of the find. REUTERS/Tullow Oil plc/Handout
Tim O'Hanlon, speaking at the Africa Oil conference organised by Global Pacific & Partners, also said the company was trimming capital spending in the face of depressed prices, to $1.2 to $1.4 billion next year from $1.9 billion in 2015.
He also said the company hoped to get a production license this year in Uganda, the central African country where Tullow discovered oil in 2006.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
How we reduced road traffic crashes by 42% – FRSC boss
Motorists express worry as long fuel queues resurface in FCT
Reno's $10,000 Challenge: I didn't build any school in Anambra, Obi opens up
Bullied student threatens Abuja school with lawsuit if abusers are not punished
EFCC withdraws appeal against Yahaya Bello
Gov Zulum wants Army to establish military base in Sambisa forest
2 Wike loyalists exit Fubara's cabinet as Governor reshuffles
Ganduje believes APC is the answer to Nigeria’s problems
Spate of deaths strikes Nigerian movie industry, Nigerians calls for action
ADVERTISEMENT