Ghana’s Jubilee field reaches 300 million barrels of oil production

Business News for Monday, October 5, 2020

Source: Class FM

2020-10-05

Tullow Ghana Limited (TGL), operator of the Jubilee and Tweneboa, Enyenra and Ntomme (TEN) fields, is proud to announce a major milestone of 300 million barrels of oil production from the Jubilee field.

Tullow and its partners; GNPC, Kosmos, Anadarko and Petro SA, in a statement, said they “are proud to be part of the remarkable Jubilee history of Ghana.”

“With the support of the Government of Ghana, Jubilee Field went from discovery to First Oil in just 40 months.

“Tullow and its partners have invested US $ 10.8 billion from 2007 to 2019 in the Jubilee field and continue to invest in Ghana’s hydrocarbon resources,” the statement said.

He noted that: “In the first half of 2020, Jubilee production averaged 84,700 bopd and TEN production averaged 50,900 bopd with facility uptime in both FPSOs greater than 95%.”

Tullow Oil Plc Chief Executive Officer Mr. Rahul Dhir said: “Reaching 300 million barrels of oil produced at the Jubilee field is a significant moment for Ghana and Tullow Oil.”

“This could not have been achieved without the hard work and dedication of our employees and contractors and the support and close cooperation with the government of Ghana and our partners,” he noted.

Tullow Ghana said it thanks all stakeholders, including the Government of Ghana, its joint venture partners, contractors and suppliers, its host communities, its staff, and the people of Ghana for their collaboration and support in reaching this important milestone.

Tullow is a leading independent oil and gas exploration and production group listed on the London, Ireland and Ghana stock exchanges (symbol: TLW).

The Group has interests in more than 70 exploration and production licenses in 15 countries.

In Ghana, Tullow Ghana Limited (TGL) holds licenses in the Deepwater Tano and West Cape Three Points blocks.

It operates both the Jubilee Field, Ghana’s first producing oil field, and the TEN fields, which produced oil for the first time in 2010 and 2016, respectively.