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Ghana

Oil & Gas

McDermott wins approval for joint venture in Ghana

McDermott said its joint venture project in Ghana has received regulatory approval. The company is working on the McDermott Marine Construction Ghana Limited venture to pursue key offshore opportunities in Ghana. The announcement was made by officials from the joint venture during Africa Oil Week in Cape Town.

Oil & Gas

Ghana Gas Company shuts plant over Tullow gas supply disruption

State-run Ghana Gas Company has shut down its Atuabo gas processing plant due to an unexpected disruption of gas supplies from the offshore Jubilee field operated by Tullow Oil, the plant's director said on Tuesday. George Yankey told Reuters that Tullow had informed the plant of the disruption on its floating production vessel. Gas supplies were cut on July 3 and there was no indication when they would resume, he said.

Oil & Gas

Ghana blocked from drilling new oil wells in disputed area

Ghana can’t drill new oil wells in a disputed sea area with Ivory Coast, according to a special tribunal. The order may impact producers, including Tullow Oil Plc. Ghana and Ivory Coast “shall pursue cooperation and refrain from unilateral action that may lead to aggravating the dispute,” the Hamburg-based International Tribunal for the Law of the Sea said in a statement on its website Saturday. The order is provisional pending a final decision. Ivory Coast challenged sea boundaries with neighboring Ghana and asked the arbitration panel to order Ghana to halt drilling in an area where Tullow operates its Tweneboa-Enyenra-Ntomme project. TEN is set to produce its first oil in mid-2016.

Africa

Fugro sets up base in Ghana

Fugro has continued its expansion into Africa with the establishment of a new base in Ghana. The company has set up a base in Accra, which will provide it with support as it extends its business into the oil and gas market in West Africa. Fugro has also established a partnership with Lima Oil Services in the region.

Oil & Gas

Tullow Oil drops on concern Ghana dispute may halt activity

Tullow Oil Plc, an energy explorer in Africa, fell to a one-month low in London trading after saying Ghana could be ordered to suspend drilling in an offshore area where it operates. Tullow dropped as much as 8.6% to 354.1 pence, the lowest intraday price since January 30, and was at 363.1 pence at 1:14 p.m. local time. Ivory Coast, which disputes sea boundaries with neighboring Ghana, has asked an arbitration panel to order Ghana to halt drilling in an area where Tullow operates its Tweneboa-Enyenra-Ntomme project, the company said Monday in a statement. The TEN project is set to produce its first oil in mid-2016.