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Tullow Oil expects first oil from Ghana Ten Field in 2016

Reuters - UK Focus

CAPE TOWN, Oct (HKSE: 3366-OL.HK - news) 27 (Reuters) - Africa-focused oil explorer and producer Tullow Oil (LSE: TLW.L - news) expects its Ten Field development in Ghana to start producing oil next year and deliver significant cash flow, the company's vice president for Africa said on Tuesday.

Tim O'Hanlon, speaking at the Africa Oil (LSE: 0QVL.L - news) conference organised by Global Pacific & Partners, also said the company was trimming capital spending in the face of depressed prices, to $1.2 to $1.4 billion next year from $1.9 billion in 2015.

He also said the company hoped to get a production license this year in Uganda, the central African country where Tullow discovered oil in 2006. (Reporting by Ed Stoddard and Wendell Roelf; Editing by James Macharia)