Business News of Tue, 6 Nov 2007105

The oil must flow soon -Gov't

Govt pushing Tullow Oil to start output by 2009
The government wants oil explorer Tullow Oil to begin production at its deepwater oil discovery by 2009, a year earlier than the company's latest estimate.

"We are the government, we are going to sit with them and tell them to produce from 2009," Thomas Manu, director of exploration at the Ghana National Petroleum Corp (GNPC), told Reuters.

In early September, Tullow CEO Aidan Heavey said he expected first oil in 2010 or 2011.

Manu also said he hoped Tullow's Hyedua field, plus another deepwater field operated by Kosmos Energy, would be pumping about 60,000 barrels per day (bpd) from early 2009.

Tullow Oil has made discoveries in two deepwater Ghana blocks, Tano and West Cape Three Points, offshore the West African nation, which it now believes are likely linked and hold well over 1 billion barrels.

It has a 49.95 percent share in Deepwater Tano, while private-equity backed Kosmos Energy operates West Cape, where Tullow holds 22.9 percent.

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U.S.-based Anadarko Petroleum is a partner in both.

Source: Reuters/GHP

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