Tullow Oil plc, a multinational oil and gas exploration company founded in Tullow, Ireland with its headquarters in London, United Kingdom, is going ahead with its production activities in Ghana, the Tullow Group Chief Executive Officer, Mr Aidan Heavey, said.
“Oil prices always move up and down but this time round, it has been a dramatic decline for the company but we are focused on key projects in Ghana. Ghana is a key project,” Mr Heavey said to journalists at a media briefing in Accra, Graphic Online reported.
Crude oil prices have seen a dramatic downturn in the past three years causing Tullow Oil plc’s shares to dip on the stock market. Despite these hiccups, Tullow Oil plc is bent on continuing with its production activities on the Jubilee and Tweneboa-Enyenra-Ntomme (TEN) oilfields in the Western Region.
Describing the TEN project as one of the biggest in the world, the CEO said “our focus is on time and budget for all our projects in Ghana,” according to Ghana Web.
TEN field, located offshore Ghana, is on schedule and budget to deliver first oil in mid-2016, Tullow Oil plc’s Chief Financial Officer Ian Springett confirmed, RigZone added.