Tullow Oil has said in an Interim Management Statement issued Wednesday November 10, 2010 and copied to ghanabusinessnews.com that the first oil from Jubilee Phase 1, which Tullow describes as a major milestone in the development of Ghana’s oil resources, is expected in early December and a ceremony hosted by the President of Ghana, Prof. J. E. A. Mills to mark this momentous occasion is scheduled for later in December 2010.
Acording to Tullow, an initial production capacity of around 50,000 bopd is expected to be delivered before year-end and production is expected to ramp up to 120,000 bopd over the next three to six months.
The Owo-1 and Owo-1 sidetrack wells, drilled in July and September respectively, confirmed Owo as a major new light oil field with a penetrated gross oil column of some 200 metres, the statement said.
It indicated that a three well programme is planned to commence this month to appraise both the Owo oil discovery and the adjacent Tweneboa oil and gas condensate accumulations which will further refine the range of resources. Development studies for the Owo and Tweneboa fields have also begun with a view to development commencing in 2012, it added.
The discovery of oil in commercial quantity in Ghana was announced in June 2007.
The Jubilee oil field is the largest oil field to be discovered in West Africa in the last 10 to 15 years. According to Tullow, it contains 1.5 billion barrels of oil and has 17 wells.