Tullow expects Jubilee production to exceed 90,000 barrels of oil per day end of 2012

Lead oil producer at Ghana’s Jubillee oil fields, Tullow Oil, says it is expecting current production levels at the field to exceed 90,000 barrels of oil per day (bopd) by the end of 2012.

The company also said its operational and financial performance in Ghana in the second half of 2012 to date has continued to be strong.

In its Interim Management Statement for the period July 1 to November 14, 2012 released today Novemeber 14 and copied to ghanabusinessnews.com, the British oil company said “in Ghana, Jubilee field production capacity has been enhanced and is expected to exceed 90,000 bopd (gross) by year-end.”

According to the Statement, the acid stimulation of certain Phase 1 production wells in the Jubilee field has proven to be successful and gross production has increased from 63,000 bopd at the middle of 2012 to a recent production rate of around 85,000 bopd, in line with expectations.

In addition, Tullow said, the Jubilee Phase 1A development project is progressing well with five of the eight wells drilled. All of the wells have encountered good quality reservoir on prognosis.

The company also indicated that in the second half of 2012, the Tweneboa, Enyenra and Ntomme (TEN) project made good progress and Tullow and partners have submitted the Plan of Development to the Minister of Energy in early November 2012.

It said the development is being designed with sufficient flexibility to allow both TEN resources and nearby discoveries to be tied into an FPSO.

“Following the Wawa discovery on the Deepwater Tano block in July 2012, an appraisal programme is now being evaluated. The Okure exploration well to the south of TEN is currently being drilled and a result is expected in the coming weeks,” Tullow said.

The rig will then move to drill the Sapele exploration well to the southwest of Jubilee. These wells will complete the exploration campaign on the block before the licence period ends in January 2013, it added.

Tullow said it released the Interim Management Statement in accordance with reporting requirements of the EU Transparency Directive.

“The Group will announce its full year Trading Statement and Operational Update on 11 January 2013. Full year results will be announced on 13 February 2013,” it said.

By Emmanuel K. Dogbevi

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