Production from Tullow Oil’s Jubilee field offshore Ghana has surged past 100,000 barrels per day, as contributions from its new $1 billion Jubilee South East (JSE) project begin to kick-in.
The output boost will be welcomed by Tullow which needs higher revenues in order to pay down debt.
The company said today that gross production has surpassed 100,000 bpd after a second JSE production well was brought on stream.
Both of the JSE wells, said the operator, are performing in line with expectations and have increased production rates by about 50% compared to the first half of 2023.
Two further wells are on track to be brought online over the remainder of this year.
Chief executive Rahul Dhir said that reaching over 100,000 bpd “is a major milestone” for Tullow, its partners and Ghana.
“I look forward to working with our partners to sustain these higher levels of production for several years and to realise the full potential of the Jubilee resource base.”
He point out that, for Tullow, “delivery of this step up in production is a key part of our business plan, in line with our commitment to deliver over $800 million of free cash flow between 2023 to 2025.”
JSE production flows to Tullow’s Kwame Nkrumah floating production, storage and offloading vessel which has been producing from the main Jubilee field for a decade or so.