Tullow Oil announced a significant increase in production at Ghana’s Jubilee field following the successful start-up of the Jubilee South East (JSE) project.
The company’s gross production from the field has surpassed 100,000 barrels of oil per day (bopd) after the addition of a second JSE production well. This represents a 50% increase in production rates compared to the first half of 2023. Tullow remains on track to tie in two more wells during the remainder of the year.
Rahul Dhir, the Chief Executive Officer of Tullow, stated, “Reaching production of over 100,000 bopd from the Jubilee field is a major milestone for Tullow, our partners, and for Ghana.” Dhir said the company is committed to sustaining these higher production levels for several years and unlocking the full potential of the Jubilee resource base. This step up in production aligns with Tullow’s strategic business plan, aiming to deliver over US$800 million of free cash flow between 2023 and 2025.
The success of the JSE Project is a result of the collaboration between Tullow and its partners, including Kosmos Energy, Ghana National Petroleum Corporation, Petro SA, and Jubilee Oil Holdings. Over the past three years, the consortium has invested approximately US$1 billion in the JSE Project, encompassing drilling operations and the installation of crucial infrastructure required for the production of previously untapped reserves.
The majority of the complex offshore infrastructure, Tullow said, has been fabricated by local companies in Ghana, with more than 90% of the workforce comprising locals.
Tullow Oil is an independent oil and gas exploration and production company focused on Africa and South America. Offshore Guyana, it has a 60% operated interest in the Orinduik Block and a 37.5% non-operated interest in the Kanuku Block. Tullow is expected to drill one exploration well offshore Guyana in 2023.
