Tullow Oil has stated that its much-anticipated $5bn flagship Tweneboa Enyenra Ntomme (TEN) project, off the coast of Ghana, is now 75% complete and remains on schedule and on budget to deliver first oil by the middle of next year.

Annual results for Tullow Oil due next month are set to show double-digit percentage growth in revenue, to $2.6 billion (€1.9bn) and a near 4% jump in gross profit.