Tullow Oil to Restart Production in Ghana After Border Issue Settled
September 25 2017 - 4:10AM
Dow Jones News
By Maryam Cockar
Tullow Oil PLC (TLW.LN) on Monday said it will restart drilling
in Ghana after a court settled a maritime boundary dispute between
Ghana and Ivory Coast that had halted the FTSE 250-listed company's
activities there.
On Saturday, the International Tribunal of the Law of the Sea in
Germany ruled that Tullow's oil fields, known as Ten, are under the
jurisdiction of Ghana and not the Ivory Coast, which had claimed
that some of the Ten fields were within its maritime border.
Tullow said it will work with the Ghanian government to secure
permits to restart drilling at the end of 2017, which would help
the company reach its oil production target of 80,000 barrels a
day.
Tullow Chief Executive Paul McDade said restarting drilling will
enable the fields to reach their full potential.
Write to Maryam Cockar at maryam.cockar@dowjones.com
(END) Dow Jones Newswires
September 25, 2017 04:55 ET (08:55 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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