According to the Public Interest and Accountability Committee (PIAC)
2022 Annual Report (p. 25), oil production from the Jubilee Field witnessed an increase in production from 27,335,481 barrels at year’s end in 2021 to 30,523,813 barrels at year’s end in 2022.
Tullow Oil has forecast a capital expenditure (CAPEX) of c.$400Million in three African countries 2023.
Tullow Oil says it will continue operations in Africa despite plans by other operators to shift from the continent.
Irish-listed oil and gas explorer Tullow Oil expects to maintain 2022 production at 59,000 to 65,000 barrels of oil per day as it concentrates on assets in Ghana.
The upstream petroleum industry in Ghana was energised with the commercial discovery of oil in the Jubilee Field in 2007.
Gas is cheaper than crude when used for a generation, but free Gas from jubilee had always been preferred due to the impact on pricing.