Tullow oil production at Jubilee south east surpasses 100,000 barrels

Tullow Oil has revealed that gross production from its Jubilee South East project has surpassed 100,000 oil-barrels a day after a second well was brought onstream.

The oil-and-gas company said both wells at the project located offshore Ghana are performing in line with expectations and have increased production rates by around 50% compared with the first half of 2023.

“For Tullow, delivery of this step up in production is a key part of our business plan, in line with our commitment to deliver over $800 million of free cash flow between 2023 to 2025,” Chief Executive Rahul Dhir said.

Mr Dhir added reaching production of over 100,000 Barrels per day from the Jubilee Field is a major milestone for Tullow, their partners and Ghana.

Tullow and its partners intend to maintain this increased production level at Jubilee over the coming years through an ongoing infill drilling programme.

The partnership has identified multiple future drilling locations and is focused on prioritizing these opportunities to further extend the plateau and unlock the full potential of the substantial Jubilee resource base.

Over the past three years, Tullow and its partners have invested approximately $1 billion in the JSE Project, including drilling wells and installing the necessary infrastructure to bring previously untapped reserves into production.

The project has emphasized the involvement of local suppliers, with the majority of the complex offshore infrastructure being fabricated by Ghanaian companies and more than 90% of the workforce being local. This demonstrates the growth and capability of the Ghanaian supplier base, which can now support significant elements of the oil and gas industry, highlighting Tullow and its partners’ commitment to developing local capacity.

A ceremonial event to celebrate the achievement of First Oil is scheduled to take place in Ghana during the third quarter of 2023.

Source: citifmonline