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Tullow to invest $400 million in Ghana project
Tullow Oil plans to invest $400 million this year, mainly on its flagship fields in Ghana, the independent oil and gas exploration and production group announced this on Wednesday.
Forecasting its capital expenditure for this year, Tullow said it would invest $300 million in Ghana, $40 million in Gabon, $20 million in Côte d’Ivoire, $10 million in Kenya and $30 million on exploration and appraisal activities.
The company expects free cash flow to come in at $100 million at an oil price of $80 a barrel, or twice that at $100 a barrel, unchanged from previous guidance.
For 2022, free cash flow came in at $267 million, up from $245 million in 2021 and in line with forecasts.
Expatiating on the 2023 outlook for Ghana, Tullow said “completion of Jubilee South East infrastructure in the first half of 2023 will mark the end of the current major infrastructure spend on Jubilee.”
Gross production from Jubilee expected to increase to over 100 kbopd with four new wells at Jubilee South East and a further Jubilee producer onstream later this year.
Tullow forecast decommissioning expenditure of $90 million in the UK and Mauritania, with a further $20 million placed into escrow funds for future decommissioning in Ghana and parts of the non-operated portfolio.
“Decommissioning expenditure is weighted more than 80 per cent to the first half of the year,” Tullow said.
According to the oil company, Jubilee FPSO operations and maintenance (O&M) costs were expected to be 23 per cent lower than in 2021, following O&M transformation undertaken in 2022.
Tullow said it plan to go into a long-term gas sales agreement with the Government of Ghana covering both Jubilee and TEN fields.
Commenting, Mr. Rahul Dhir, Chief Executive Officer, Tullow Oil plc said: “2022 saw Tullow successfully deliver against our business plan.
“A high focus on cost control and a disciplined approach to operational efficiency have driven a very strong performance for the year, with group production in line with guidance and expectations, delivering free cash flow of $267 million, lowering net debt to $1.9 billion and reducing cash gearing to 1.3x net debt to EBITDAX.”
He said, “looking ahead, we have multiple catalysts to deliver further profitable growth. There is strong momentum across the portfolio with the commissioning of Jubilee South East on track for the second half of 2023, bringing undeveloped reserves online and Jubilee gross production to more than 100 kbopd before the end of the year.
“Engagements to secure a strategic partner for the Kenya development project continue and we are preparing a plan of development to monetise the remaining resources at TEN.
“We have created a unique platform of assets and capability, including industry leading safety performance, which positions us strongly to create significant value for all our stakeholders.”
A member of the National Democratic Congress (NDC), Dr. Sammy Ayeh has picked up nomination forms to contest for the position of Deputy National Communications Officer position.
Announcing his intention, Dr. Ayeh said he is offering himself to help communicate the party’s vision clearly and connect its message with the aspirations of Ghanaians.
He expressed deep gratitude to the party’s National Communications Officer, Lawyer Sammy Gyamfi, describing him as an able leader on whose shoulders he has risen.
“His exceptional leadership, mentorship and confidence in me have shaped my journey and strengthened my resolve to serve,” Dr. Ayeh stated.
He said if elected, he will seek to build on that foundation by strengthening research-driven communication, empowering grassroots communicators, and enhancing strategic media engagement.
Dr. Ayeh humbly appealed to party members and supporters for their support.
By Edem Mensah-Tsotorme
The Data Protection Commission has called on the Minority Caucus in Parliament, the Ministry of Foreign Affairs, JoyNews and other media houses to protect the personal information of 1,964 Ghanaians evacuated from South Africa.
In a press release issued on Tuesday, October 20, 2026, the Commission expressed concern over the public disclosure of the evacuees’ personal details, including their names, signatures and records of financial assistance received.
It warned that making such information public could expose the affected individuals to identity theft, fraud and other forms of harm, especially given the threats to their safety that some of them may have faced.
The Commission explained that the 1992 Constitution protects the dignity and privacy of every individual. It also cited the Data Protection Act, 2012 (Act 843), which sets out rules for the lawful collection, use and disclosure of personal information.
While acknowledging the importance of transparency, parliamentary oversight, the right to information and press freedom, the Commission stressed that these principles do not automatically justify the unrestricted publication of personal details.
It said the disclosure of the records by the Minority Caucus, the Ministry of Foreign Affairs, JoyNews and other media organisations must be assessed based on the law, the purpose of the disclosure and the privacy rights of the individuals involved.
The Commission further noted that although the Ministry of Foreign Affairs and Parliament are registered data controllers in good standing, their registration does not exempt them from their legal responsibilities under the Data Protection Act.
It has therefore urged all the parties involved to take appropriate steps to protect the affected individuals, including immediately restricting access to or removing personal details from publicly available records where their continued disclosure is not legally justified.
The Commission announced plans to conduct a regulatory review to determine whether the disclosures had a lawful basis, what safeguards were applied and whether the privacy rights of the evacuees had been adequately protected.
It said it would engage the relevant parties as part of the review and take appropriate regulatory action if any breach of the law is established.
The Commission reiterated that protecting personal information and respecting human dignity must remain central to efforts to promote public accountability.
By: Jacob Aggrey
