Tullow Oil expects first oil from Ghana Ten Field in 2016

October 27, 2015 9:25 AM

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

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.

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.