It was pump and pageantry when president John Mahama on Thursday turned the valves on the $1 billion Floating Production, Storage and Offloading (FPSO) vessel, the Prof John Evans Atta Mills, for commercial oil production to begin from the Tweneboa, Enyenra and Ntomme (TEN) Oil field.

The $4.8 billion project is expected to produce oil for at least 25 years, which will mean about 300 million barrels of oil is expected.

"I believe that current setbacks in the world (oil) market are temporary and we'll see a recovery soon that will give a fair price to producers," president Mahama said as he opened the valve. "Its been a long journey but a fruitful one."

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The Tweneboa, Enyenra and Ntomme (TEN) project showcase is a joint-venture partnership between Tullow, Kosmos Energy, Anadarko Petroleum, Petro SA and the  GNPC.

They are located in the Deepwater Tano licence which covers an area of more than 800 sq km, and lies around 20km west of Tullow’s Jubilee field.