Pulse.com.gh logo

TEN Oil Field Tullow says budget cuts will not affect project in Ghana

The oil exploration firm this year slashed about $100 million of its budget, raising fears it may hold back investments in Ghana.

  • Published: , Refreshed:
Tullow CEO Aidan Heavey play

Tullow CEO Aidan Heavey

Tullow Oil has insisted fresh budget cuts will not affect its projects in Ghana.

The oil exploration firm this year slashed about $100 million of its budget, raising fears it may hold back investments in Ghana.

However, the company’s CEO Aidan Heavey says a decision was taken early in the year not to cut cost at the Tweneboa-Enyenra-Ntomme (TEN) project and other projects in Ghana.

“The TEN project is a very important project and we took a decision very early on not to cut cost at the TEN, Heavey to Joy FM. “Our priority was to ensure TEN delivers on time and on budget and I think we will achieve it.”


The TEN project is 90 percent complete, according to Tullow’s latest update on the project is on course to begin oil production in the third quarter of this year.

Tullow estimates that TEN average annualised production in 2016 will be around 23,000 bopd gross.

Heavey said the other part of the business will focus on cost cutting and making sure that the company is profitable as a business.

He indicated that there will be labour cut throughout the organization.


Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos

Top Articles

1 Ponzi schemes in Ghana These investments are Ponzi schemes in Ghana, so...bullet
2 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions public...bullet
3 Investment banks in Ghana Top 5 investment banks in Ghana and why...bullet
4 How to make money online Online jobs; how to make money on YouTube...bullet
5 Mutual funds in Ghana Top 5 mutual funds in Ghanabullet
6 Education Top 5 private high schools in Ghana according to WAECbullet
7 Menzgold Ghana Investment company closes down its Gold Vault...bullet
8 Economy Of Ghana Finance Minister presents mid-year budget...bullet
9 Salaries In 2018 Here are the dates public workers will...bullet
10 AirtelTigo 6 things every Airtel and Tigo customer...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
3 Money Alert Meet Africa's richest womanbullet
4 Support Finance minister buys Kantanka carbullet
5 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
6 Tech 6 reasons you should buy an iPhone SE instead of any of...bullet
7 Bozoma Saint John 10 quotes from Uber top official, Bozoma,...bullet
8 New Phones Nokia MWC 2018 Event in 5 minutesbullet
9 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
10 Plane Crash Starbow suspends operations following...bullet