Takoradi — Tullow Oil and its partners have commenced production of oil and gas from the Jubilee South East (JSE) project as part of the Greater Jubilee oil field located offshore Ghana.
The partners are Kosmos Energy, Ghana National Petroleum Corporation, Petro SA and Jubilee Oil Holdings.
The JSE project is a ceremony to celebrate this feat, and it will be held in the third quarter of 2023 in Ghana, a Tullow portal said.
The Minister of Energy, Dr Matthew Opoku Prempeh, said: “The approval of the Greater Jubilee Full Field Development Plan by the Ministry in October 2017 paved the way for investment in the development of the JSE project.”
This, he noted, had now helped in the delivery of the first oil from the JSE area.
“The government of President Nana Addo Dankwa Akufo-Addo will continue to work with all our strategic partners with a view to leveraging our God-given resources for the ultimate benefit of our people,” Dr Prempeh stated.
Tullow reported that the joint venture partners had identified numerous viable drilling sites and were concentrating on high-grading these opportunities to expand the plateau and exploit the full potential of the substantial Jubilee resource base.
Tullow Chief Executive Officer (CEO), Rahul Dhir, said, “Through our strong project management and operating capability, we have delivered a complex offshore development which is one of the key catalysts to unlock value for our business.”
He stressed, “We are well positioned for future growth with production ramping up in the second half of 2023 that will generate significant free cash flow.”
Meanwhile, according to Global Data, the Greater Jubilee conventional oil field reached its peak production in 2015, and has recovered 54.27 per cent of its total recoverable reserves.
Tullow and its partners have invested over $1bn (11.4bn cedis) in the JSE project to bring previously untapped reserves into production.
The first JSE-producing well has started operating, and to maintain gross Jubilee production of over 100,000 barrels of oil per day, a further two producers and one water injector are anticipated to start this year.