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Business News of Friday, 7 December 2018

Source: GNA

Tullow estimates Ghana oil production to go up to 180,000 barrels next year

Tullow-Ghana’s drilling program is targeting a significant growth production from around 147, 000 barrels to 180,000 in 2019.

The company was working to strengthen and grow its business in Ghana by tapping into additional exploration opportunities.

Mr Kweku Awotwe, the Managing Director of Tullow- Ghana, told the media in Takoradi that undrilled prospects and leads have been identified within the Jubilee and TEN fields which could lead to new discoveries and generation of additional production and revenue for Ghana and other stakeholders.

He said the rise in oil price had contributed significantly in the company’s financials and thereby helped to reduce its debt portfolio.

The company is poised to deliver strong and sustainable returns on investment for shareholders as well as holding on to key safety measures to enable them to operate in the zero fatalities and downward trend in lost time injury frequency.