Tullow Jumps as Kosmos Says Ghana Oil Project on Schedule
- Shares gain as much as 18%, most in more than four years
- Kosmos says TEN project set for first oil in third quarter
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Tullow Oil Plc gained the most in four years after the African oil explorer’s partner in an offshore project in Ghana said the two companies remained on course to start production in the third quarter of 2016.
The Tweneboa, Enyenra and Ntomme, or TEN, project is 75 percent complete and remains on budget, Kosmos Energy Ltd. said in a statement on Monday. Figures from Kosmos also showed good production from Ghana’s Jubilee offshore field, which is operated by Tullow, FirstEnergy Capital said in a note.