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RNS Number : 4843H

Tullow Oil PLC

18 August 2016

News Release

TEN delivers first oil on time and on budget

18 August 2016 - Tullow Oil plc is pleased to announce that first oil has flowed from the Tweneboa, Enyenra, Ntomme (TEN) fields offshore Ghana, to the FPSO Prof. John Evans Atta Mills. First oil has been reached on time and on budget three years after the Plan of Development was approved by the Government of Ghana in May 2013.

The TEN start-up process is now well advanced and Tullow expects oil production to ramp-up gradually towards the FPSO capacity of 80,000 bopd through the remainder of 2016. Tullow estimates that TEN average annualised production in 2016 will be approximately 23,000 bopd gross (net: 11,000 bopd).

Tullow is the operator of the TEN fields and holds a 47.175% stake. Tullow's joint venture partners are Anadarko Petroleum Corporation (17%), Kosmos Energy (17%), Ghana National Petroleum Corporation (15%) and PetroSA (3.875%).

Aidan Heavey, CEO of Tullow Oil plc, commented today,

"I am delighted that the TEN fields have reached first oil. This is an important moment for Tullow as production begins from our second operated development in Ghana. I thank the Government of Ghana, the Petroleum Commission and our partners - GNPC, Anadarko, Kosmos and PetroSA - for their support and co-operation since we made the first discovery in 2009. I also congratulate the project team, our contractors and sub-contractors for delivering this project on time and on budget and with great skill and professionalism and commend them for their commitment to the participation of Ghanaian staff and companies in the project."

FOR FURTHER INFORMATION CONTACT:

 
 Tullow Oil plc     Tullow Ghana     Citigate Dewe     Murray Consultants 
  (London)           Limited          Rogerson          (Dublin) 
  (+44 20 3249       (Accra)          (London)          (+353 1 498 
  9000)              (+233 302 742    (+44 207 638      0300) 
  James Arnold       200)             9571)             Pat Walsh 
  (Investors)        Dinah Asare      Martin Jackson    Joe Heron 
  George Cazenove    Akua Anarfi      Shabnam Bashir 
  (Media)            Twumasi 
=================  ===============  ================  ===================

Notes to Editors

Tullow Oil plc

Tullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW). The Group has interests in over 120 exploration and production licences across 22 countries which are managed as three business delivery teams: West Africa, East Africa and New Ventures.

Follow Tullow on:

   Twitter: www.twitter.com/TullowOilplc                                         YouTube: www.youtube.com/TullowOilplc 
   Facebook: www.facebook.com/TullowOilplc                                 LinkedIn: www.linkedin.com/company/Tullow-Oil

Website: www.tullowoil.com

This information is provided by RNS

The company news service from the London Stock Exchange

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August 18, 2016 02:00 ET (06:00 GMT)

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