Tullow expects Greater Jubilee approval in first half of 2016

Tullow Oil, an independent oil exploration and production company, is hoping to get the approval of the Greater Jubilee Full Field Development Plan (GJFFD) in the first half of 2016. 

The Jubilee field, discovered in 2007 with two exploration wells, is located offshore Ghana. The field, developed with an FPSO with a capacity of 120,000 bopd, came on-stream in December 2010.

Tullow is the operator of the field with 35.48%, and its partners are Kosmos and Anadarko, with 24.08% interest each, GNPC with GNPC and Petro SA with  2.73% interest.

According to Tullow’s operational update on Wednesday, the Greater Jubilee Full Field Development Plan (GJFFD), which includes the Mahogany and Teak fields, was submitted to the Government of Ghana in December 2015 and approval is targeted for the first half of 2016.

The company explained that this project, to extend field production and increase commercial reserves, has been redesigned given the current environment, to reduce the overall capital requirement and allow flexibility in the timing of the capital investment.

Jubilee production tops 2015 target

According to Tullow, Jubilee production performance for 2015 exceeded the 100,000 bopd target, averaging 102,600 bopd gross (net: 36,400 bopd). Tullow noted that good performance from the onshore gas processing facility has allowed significant gas export from the Jubilee field with an average rate of gas export of around 85 mmscfd in the last quarter of 2015.

On Wednesday, Tullow forecasted Jubilee 2016 average production to be around 101,000 bopd gross (net: 36,000 bopd). This reflects the impact of a planned two week FPSO maintenance shutdown in the first quarter 2016 and a period of reduced water injection capacity which is currently being addressed, added Tullow.

Elsewhere in Ghana, Tullow’s TEN project is 80% complete and it remains within budget and on schedule for first oil between July and August 2016.

Offshore Energy Today Staff