The Wall Street Journal citing information on Tullow Oil’s website says the Tweneboa oil field contains up to 1.4 billion barrels of oil equivalent in oil and gas reserves, and the Jubilee oil field, which has been noted as the largest oil field to be discovered in West Africa in the last 10 to 15 years contains up to 1.5 billion barrels. The 1.5 billion barrel estimate for the Jubilee oil field is a slight decrease in the total earlier estimated at 1.8 billion barrels. The field has 17 wells.
The commercial production of oil at the Jubilee oil field is scheduled to begin in December this year.
The FPSO vessel to be used for the production of the oil has arrived in the country and is docked at the Takoradi Harbour.
Ghanaians are anxiously waiting to see the country join the rank of the world’s oil producers. Tullow Oil had said Ghana will become one of the world’s top 50 oil producers when the country starts commercial production of oil.
According to the CEO of Tullow Oil, Aidan Heavey, “Ghana will move pretty quickly into the top 50 producers in the world.”
By Emmanuel K. Dogbevi