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Tullow Oil signs new production sharing licence in Côte d’Ivoire
• Tullow offshore facility
Tullow Oil has signed a production sharing contract for an offshore exploration licence in Côte d’Ivoire.
UK-listed Tullow will operate the licence with 90 per cent equity and the remaining 10 per cent is held by PetroCi.
The licence covers an area of 1,345 square kilometres and is adjacent to licence CI-524 which is also held by Tullow and PetroCi.
The oil company said in a statement on Wednesday that, “with this new exploration licence, Tullow strengthens its position in the Tano Basin where significant prospectivity has been identified within the proven Cretaceous turbidite plays, similar to the plays which are producing in the adjacent TEN and Jubilee Fields.”
Tullow said “the work programme for the initial two and a half years includes reprocessing of existing 3D seismic data, along with prospect evaluation. In CI-524, a number of drill candidates are being matured while preparations continue for an exploration well to be drilled during 2024.”
Rahul Dhir, Chief Executive Officer, Tullow Oil plc, commented: “This new licence underscores our strong commitment to investing in and unlocking the resource potential in Côte d’Ivoire.
“Our exploration strategy is focussed around existing producing fields in basins where we have a differentiated understanding, in this case through our deep understanding of the Tano Basin.”
Since 2006, Tullow has had interests in two exploration licences offshore Ghana.
Following seismic acquisition and interpretation, Tullow and its partners drilled two successful exploration wells in 2007. The wells discovered the major Jubilee oil field in the Gulf of Guinea’s Tano Basin. The Jubilee Cretaceous turbidite reservoir straddled both licences; Deepwater Tano and West Cape Three Points.
In October 2008, Tullow was appointed as the Jubilee field operator and set about working with the partners and Government of Ghana on developing the field to bring Ghana its first major oil production.
The Ministy of Energy in Ghana formally approved the Jubilee field Phase 1 Development Plan and Unitisation Agreement on behalf of the Government of Ghana in July 2009.
In November 2010, following a successful development programme, which included the building of a Floating Production Offtake Vessel (FPSO), first oil was achieved from the Jubilee field.
This was some 40 months post the initial discovery well which represents the fastest ever comprehensive full scale deepwater development. The field is Tullow’s key asset and generates significant high-margin oil production for the Group.
Tullow’s second major discovery and subsequent development in Ghana is the TEN field. In May 2013, the Plan of Development for TEN was approved by the Government of Ghana and Tullow commenced its second major operated deepwater development.
First oil was achieved on time and on budget in August 2016, three years after the Plan of Development was approved by the Government of Ghana.
In March 2022, Tullow completed the pre-emption related to the sale of Occidental Petroleum’s interests in the Jubilee and TEN fields in Ghana to Kosmos Energy for a total consideration of $126 million.
The transaction took Tullow’s equity interests to 39.0 per cent in the Jubilee field and to 54.8 per cent in the TEN fields and added c.4 kbopd of annualised unhedged production to Tullow’s portfolio for 2022.
Tullow and its partners will invest over $4 billion over this decade through an ambitious ‘Value Maximization Plan’ that will deliver over 50 wells and consistent revenue to Tullow and the Government of Ghana.
In April 2021, Tullow began a multi-year, multi-well drilling campaign. In 2021 two producers, one water injector and a work over were delivered on Jubilee. On TEN, a gas injector at the Ntomme Field was brought onstream.
The Ghana Value Maximisation Plan is also focusing on a programme of operational turnaround which is targeting in excess of 95 per cent uptime at both FPSOs.
Tullow is also making sure that both fields continue to be consistent and reliable suppliers of natural gas. Gas from the Jubilee and TEN fields contributes significantly towards Ghana’s domestic energy supply.
Tullow is a recognised independent oil and gas, exploration and production group. The Group has interests in over 30 exploration and production licences across eight countries.
News
ICU holds Greater Accra regional youth, women confab
The Industrial and Commercial Workers Union (ICU) on Friday held the Greater Accra Regional Youth and Women’s Conference to build a strategic network.
The conference which brought together representatives of the Union was a great opportunity for ICU Ghana to make its voice heard on policies that were crucial to the development of the country.
The platform was also used to elect new officers for the Greater Accra Branch of The ICU Ghana to mark its 12th National Quadrennial Conference in August.
The General Secretary of the ICU Ghana, Mr Morgan Ayawine, called on government to assist the two state-owned media organisation, New Times Corporation (NTC), publishers of The Spectator and The Ghanaian Times newspapers and Graphic Communication Group Limited (GCGL).
“The two state-owned media played major roles in disseminating government policies, educating, entertaining and informing the public of the happenings in the world,” he added.
He said ICU Ghana would also raise issues about the recapitalisation of the two organisations with the sector minister.
Mr Ayawine disclosed that the ADB and NIB banks were also going through the same ordeal but government intervened and urged government to do same for the two state-owned organisations.
He stressed on equal partnership between unions and employers, saying the capital and labour were crucial to create, produce and generate funds.
The General Secretary advised the various branches of the association to suggest solutions on socio-economic issues such as employment for discussions.
The newly-elected members who were sworn in by the General Secretary, Mr Morgan Ayawine includes Belinda Cochrane-chairman, Eric Ekow Turkson-Vice chairman and Moses Kwaku Otoo-Secretary.
Others were Charles Akomea-Financial Secretary, Charles Biden- Executive Member, Diana Asiedu-Women’s Representative and Samuella A. Brago-Youth Representative.
The chairman of the Greater Accra Branch of the ICU Ghana, Belinda Cochrane thanked the leadership for contributing to the success of the union.
She added that the conference was to prepare for the 12th National Quadrennial Conference and also to take stock of the activities of the branch for the past years and discuss issues on the ground.
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Minister for Health holds emergency stakeholder meeting with principals and directors of Health Training Institutions
In a proactive move to strengthen collaboration within the health sector, the Minister for Health, Kwabena Mintah Akandoh, has convened an emergency meeting with the Conference of Heads of Health Training Institutions (COHHETI) across the country.
The meeting aimed to deepen engagement between the Ministry and key stakeholders responsible for training health professionals.
The session provided a platform for open dialogue on the challenges facing health training institutions, the quality of healthcare education, and the strategic direction of human resource development in the sector.
Addressing the stakeholders, Mr. Akandoh emphasized the importance of fostering strong and cordial relationships between the Ministry and training institutions to ensure a well-coordinated and responsive healthcare system.
He indicated that the purpose of the meeting was also to collaborate, discuss concerns, and find practical solutions that would benefit not only the institutions but also the Ghanaian people who rely on the healthcare system.
The President of COHHETI, Madam Margaret Mary Alacoque welcomed the initiative, describing it as timely and necessary. She raised concerns about transportation challenges, accreditation delays, staffing shortages, and the general conditions and status of service for Health Training Institutions (HTIs). She also shared innovative strategies that some institutions have adopted to improve training outcomes.
In his response, Mr.Akandoh assured participants of the Ministry’s commitment to addressing their concerns and announced plans to enhance coordination and follow-ups.
He added that the Ministry would soon introduce policy reforms aimed at improving standards in health education and ensuring alignment with national health priorities.
These reforms include reducing the cost of admission, implementing automatic code generation for applicants, and clarifying leadership roles within HTIs.
