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Tullow Oil : ITLOS judgment

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09/23/2017 | 02:55pm CEST

Published on: 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 made its decision 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 below.

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.

'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.'

Tullow Oil plc published this content on 23 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 September 2017 12:54:03 UTC.

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