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Tullow Oil notes ITLOS judgement in Hamburg

25 September 2017 07:47

Tullow Oil noted that the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) in Hamburg delivered its judgment with regard to the maritime boundary dispute between Ghana and Cote d'Ivoire.

The new maritime boundary as determined by the tribunal does not affect the TEN fields.

Tullow will now work with the government of Ghana to put in place the necessary permits to allow the restart of development drilling in the TEN fields.

Tullow expects to resume drilling around the end of the year which will allow production from the TEN fields to start to increase towards the FPSO design capacity of 80,000 bopd.

CEO Paul McDade commented: "Tullow looks forward to continuing to work constructively with the Governments of both Ghana and Cote d'Ivoire following the conclusion of this process.

"While the TEN fields have performed well during the period of the drilling moratorium, we can now restart work on the additional drilling planned as part of the TEN fields' plan of development and take the fields towards their full potential."

Story provided by StockMarketWire.com

Related Company: TLW

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