Tullow Oil has announced that gross production from its Jubilee South East project has topped 100,000 barrels of oil per day following the completion of a second well.
The oil and gas business stated that both wells at the project, which is located offshore Ghana, are functioning as expected and have raised production rates by roughly 50% compared to 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 noted that producing over 100,000 barrels per day from the Jubilee Field is a significant achievement for Tullow, their partners, and Ghana.
“I am excited to collaborate with our partners to sustain these higher levels of production for several years and to realise the full potential of the Jubilee resource base.”
Tullow and its partners expect to sustain this higher production level at Jubilee in the coming years through a continuing infill drilling project.
The team has discovered multiple future drilling areas and is prioritising these possibilities to further expand the plateau and realise the full potential of the enormous Jubilee resource base.
Tullow and its partners have invested nearly $1 billion in the JSE Project over the last three years, including drilling wells and establishing the required infrastructure to bring hitherto untapped deposits into production.
The project has prioritised the inclusion of local suppliers, with Ghanaian businesses fabricating the majority of the complicated offshore infrastructure and more than 90% of the labour being local.
This illustrates the expansion and competence of Ghana’s supplier base, which can now service important aspects of the oil and gas sector, emphasising Tullow and its partners’ commitment to creating local capacity.
A ceremony to commemorate First Oil’s success is planned for Ghana in the third quarter of 2023.
