6th Apr 2021 09:56
(Alliance News) - Tullow Oil PLC on Tuesday said it started a drilling campaign in offshore Ghana.
London-based explorer and producer Tullow expects to drill four wells this year in the Jubilee and TEN Fields, which have a large resource base with extensive infrastructure already in place.
The assets have the potential to generate material cash flow over the next decade, the company said. The campaign is the first part of Tullow's 10-year business plan announced in November.
Shares were up 3.4% at 50.78 pence in London on Tuesday morning.
"Working closely with the government of Ghana and our joint venture partners in Ghana, I am confident that we will unlock the full potential from the Jubilee and TEN fields through this multi-year, multi-well drilling programme," Tullow Chief Executive Rahul Dhir said.
By Ivan Edwards; [email protected]
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