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Tag Archives: Tullow oil

Kosmos wins $14m in court case against Tullow

kosmos energy

A panel of arbitrators, working under the jurisdiction of the International Chamber of Commerce, has ruled in favour of Kosmos Energy Ghana in relation to its dispute with Tullow Ghana Limited over the West Leo Rig. This was announced in a statement released by Tullow Oil. In this regard, Tullow Oil is to reimburse Kosmos Energy, some 14 million dollars ...

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Tullow to spend $780m on new wells on TEN oilfields

Kweku  Awotwi - Managing Director, Tullow

Tullow has disclosed to Citi Business News that it will cost the company about seven hundred and eighty million dollars ($780,000,000) to construct the remaining wells on its TEN oilfields. Tullow has so far completed one of the thirteen wells to be drilled on the oilfields in the western region. The Maritime border dispute between Ivory Coast and Ghana, led ...

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Big shots at MTN bow out


At least three executive positions at MTN Ghana have been left vacant following the exit of two executives and the promotion of one. The positions that are vacant are that of the Chief Executive Officer, Corporate Services Executive as well as the Chief Marketing Officer. The positions were previously occupied by Mr. Ebenezer Asante, Madam Cynthia Lumor and Mr. Asha ...

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Tullow records loss after tax of 189 million dollars


Tullow Oil has posted a loss after tax of 189 million dollars for 2017. At least this is the second time in a row that the oil company has posted a loss after tax. For 2017, Tullow’s loss after tax amounted to 189 million dollars; this is an improvement of about 408 million dollars or 68 percent compared to the ...

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Tullow records $ 300m loss after tax in 2017 first half


Tullow Oil has posted a loss after tax of 300 million dollars for the first half of this year. The figure represents a decrease of 270 million dollars compared to the 30 million dollars profit after tax recorded for the same period last year. The oil company’s revenue for the first half of 2017 however went up to 788 million ...

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FPSO shutdown not to exceed 12 weeks – Tullow


Tullow Oil has announced that its planned shutdown of the FPSO Kwame Nkrumah later this year, will not exceed the proposed twelve weeks. Tullow is expected to shut down its Jubilee fields operations later this year for the stabilisation, rotation and offloading system installation. It also comes on the back of the faulty turret bearing which has affected the production ...

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2017 production not affected by faulty turret bearing – Tullow

Managing Director of Tullow Ghana, Charles Darku

Tullow Oil has told Citi Business News its production from the Jubilee Oilfields this year has not been affected by the challenges that have been associated with the turret bearing. The oil company says its production target for 2017 will therefore not be affected as a result. Tullow, in its 2016 financial report projected a drop of about 5,000 barrels ...

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WAPCo rules out pressure on gas supplies over FPSO shut down


The West African Gas pipeline Company Limited (WAPCo) has assured that the temporary shutdown of FPSO Kwame Nkrumah by Tullow will not put pressure on gas that will be required to be transported to the Volta River Authority (VRA). According to WAPCO, various measures have been put in place to avert possible debts when Tullow shuts down its operations temporarily. ...

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Tullow reduces 2017 oil output by over 5000 barrels

Aidan Heavey ; Tullow Oil CEO

Tullow Oil has cut down its 2017 oil projection from Ghana’s Jubilee oilfields by 5200 barrels. The figure has dropped from 73,700 barrels in 2016 to 68,500 barrels. This was contained in the company’s 2016 financial statement released on Wednesday, February 8, 2017. Tullow’s profits however dropped by eight percent between 2015 and 2016. The figure declined from 591 million ...

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Tullow to resume 90 mmscf gas supply to Ghana Gas


Tullow Oil is expected to resume its daily 90 million standard cubic feet of natural gas supply to Ghana Gas effective today, November 22, 2016. Tullow, early this month announced a reduction of its daily natural gas supply by 40 million standard cubic feet to allow it complete a “critical turret remediation works upstream.” The exercise was scheduled to last ...

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