Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Tullow Plans $4.5 Billion Ghana Project as Approval Granted

Tullow Oil Plc, a U.K. explorer with most of its licenses in Africa, said Ghana’s approval of a $4.5 billion oilfield development paves the way for its construction.

The government approved Tullow’s plan for the Tweneboa, Enyenra and Ntomme deposits, collectively known as TEN, the company said today in a statement. The London-based explorer and partners Anadarko Petroleum Corp. and Kosmos Energy Ltd. plan to pump about 80,000 barrels a day from TEN starting in 2016.

Tullow has extended exploration off Ghana after its Jubilee field in 2010 opened up a new oil province. West Africa has attracted interest from the likes of Exxon Mobil Corp. and China’s Cnooc Ltd. as international energy companies drill from Mauritania to Namibia.

“The government of Ghana has shown faith in Tullow and its partners again and has set us a number of important targets around local content and supply chain,” Chief Executive Officer Aidan Heavey said in the statement. He said May 8 that Tullow, the project operator, plans to sell part of its stake in the development.

It will take 32 to 36 months to produce the first oil from TEN following government approval, the company said in February.

Tullow gained 1.4 percent to 1,043 pence in London trading.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.