Ghana’s Jubilee field drives Tullow’s revenues to over $1b, 15 million barrels of oil exported

Oil production from Ghana’s largest oil field, the Jubilee oil field has significantly driven up Tullow Oil’s revenue to over $1 billion, the British oil producer has said in its half-yearly results for the six months ended June 30, 2011.

Commercial oil production at the Jubilee field began December 15, 2010 and according to Tullow, over 15 million barrels of oil have been produced so far and 15 oil cargoes have been exported.

In an email sent to ghanabusinessnews.com, Tullow indicates that the Jubilee field is now producing around 85,000 barrels of oil per day ( bopd) with over 75 million standard cubic feet per day (mmscfd) of gas being re-injected.

“A total of 17 wells have been drilled to date of which 14 have been completed and brought on line,” the oil producer adds.

According to Tullow, this total consists of eight oil production wells, five water injection wells and one gas injector well. The final production well is expected to be brought on stream in October, taking Jubilee production to 105,000 bopd.

Jubilee was expected to have reached plateau production of 120,000 bopd in August, but that target won’t be reached till the end of the year.

Tullow says plateau production of 120,000 bopd gross is now expected to be reached by the end of the year following the sidetrack of an existing production well.

“This well was not optimally located in the reservoir and has lower productivity than expected,” it said.

Tullow says the final water and gas injection wells are also expected to be completed by year-end.

“In addition, production will be enhanced with the recent startup of the third water injection pump which has increased water injection rates from 150,000 barrels of water per day (bwpd) to 225,000 bwpd.

“The reservoir performance to date continues to support the Reserves and Resources for the Jubilee Unit Area,” it adds.

By Emmanuel K. Dogbevi