Audio By Carbonatix
Government has finally given its approval to the plan of development for the country’s next major oil field, Tweneboa, Enyenra- Ntomme, T.E.N.
Government had earlier delayed in approving the plan because it wanted some clarity on the project.
A source close to the transaction tells Joy Business government decided to okay the deal because their initial concerns have been addressed.
The approval would now allow the partners to go ahead to develop the field for commercial production by 2015.
The partners had earlier argued that if the plan is not approved by government by this Friday, their exciting contracts with services providers and investments could be affected seriously.
The field is said to have a little over one billion barrels of crude oil and can produce about 100 thousand barrels a day.
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