Business News of Wednesday, 14 November 2012

Source: XYZ

90,000 barrels of crude to be produced by December

Oil giant, Tullow, is projecting more than 90,000 barrels of oil per day by the end of this year.

Ecobank Research, the research unit of Ecobank Group had already projected the same trend anticipating 120,000 barrels of oil production by the first half of next year.

In its operational and financial performance report released on Wednesday, Tullow said its performance continue to remain strong.

It is also predicting that capacity production for the FPSO will be reached in the first half of next year.

Tullow said the Okure exploration well to the south of Tweneboa, Enyenra and Ntomme is currently being drilled and the result is expected in the coming weeks.

Meanwhile, the Group Company will announce its full year Trading Statement and Operational Update on January 11, 2013.