News Release
ITLOS judgment
23 September 2017 - Tullow Oil plc (Tullow) notes that the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) in Hamburg today delivered its judgment with regard to the maritime boundary dispute between Ghana and Côte d'Ivoire. The new maritime boundary as determined by the tribunal does not affect the TEN fields as per the map at http://www.tullowoil.com/media/press-releases/itlos-judgment.
Tullow will now work with the Government of Ghana to put in place the necessary permits to allow the restart of development drilling in the TEN fields. Tullow expects to resume drilling around the end of the year which will allow production from the TEN fields to start to increase towards the FPSO design capacity of 80,000 bopd.
Paul McDade, CEO, commented today:
"Tullow looks forward to continuing to work constructively with the Governments of both Ghana and Côte d'Ivoire following the conclusion of this process. While the TEN fields have performed well during the period of the drilling moratorium, we can now restart work on the additional drilling planned as part of the TEN fields' plan of development and take the fields towards their full potential."
FOR FURTHER INFORMATION CONTACT:
Tullow Oil plc (London) (+44 20 3249 9000) Chris Perry (investors) Nicola Rogers (investors) George Cazenove (media) |
Murray Consultants (Dublin) (+353 1 498 0300) Pat Walsh Joe Heron |
Notes to Editors
Tullow Oil plc
Tullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW). The Group has interests in over 80 exploration and production licences across 17 countries which are managed as three business delivery teams: West Africa, East Africa and New Ventures.
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