Tullow Oil has announced that gross production from its Jubilee South East project has topped 100,000 barrels of oil per day following the completion of a second well.
The oil and gas business stated that both wells at the project, which is located offshore Ghana, are functioning as expected and have raised production rates by roughly 50% compared to the first half of 2023.
“Delivering this step increase in production is a significant aspect of Tullow’s business plan, in line with our aim to provide over $800 million in free cash flow between 2023 and 2025,” said Tullow CEO Rahul Dhir.
Mr Dhir noted that producing over 100,000 barrels per day from the Jubilee Field is a significant achievement for Tullow, their partners, and Ghana.
“I am excited to collaborate with our partners to sustain these higher levels of production for several years and to realise the full potential of the Jubilee resource base.”
Tullow and its partners intend to maintain this increased production level at Jubilee over the coming years through an ongoing infill drilling programme.
The partnership has identified multiple future drilling locations and is focused on prioritizing these opportunities to further extend the plateau and unlock the full potential of the substantial Jubilee resource base.
Over the past three years, Tullow and its partners have invested approximately $1 billion in the JSE Project, including drilling wells and installing the necessary infrastructure to bring previously untapped reserves into production.
The project has emphasized the involvement of local suppliers, with the majority of the complex offshore infrastructure being fabricated by Ghanaian companies and more than 90% of the workforce being local. This demonstrates the growth and capability of the Ghanaian supplier base, which can now support significant elements of the oil and gas industry, highlighting Tullow and its partners’ commitment to developing local capacity.
A ceremonial event to celebrate the achievement of First Oil is scheduled to take place in Ghana during the third quarter of 2023.
