Business News of Thursday, 10 November 2011

Source: The Ghanaian Times

22 Million Barrels of Oil Produced From Jubilee Field

hana’s largest oil field operator, Tullow oil says the jubilee field has so far produces 22 million barrels of oil and 21 cargoes of oil exported since the country commenced commercial production last year.

In its interim management statement, for the period July 1 to November 1, 2011, issued in accordance with the reporting requirement of the EU Transparency Directive, the Jubilee field is said to be currently producing around 80,000 barrels of oil per day, from eight wells.

The report, made available to Times Business said the six water injection and two gas injection wells, were now on line, pumping 230,000bwpd and 85 mmscfd respectively, and providing good pressure support to the field. It said in recent times, production rates have been below expectation due to mechanical issues related to the design of the wells.

These issues are not unusual for a new field of this type and remedial work is ongoing on them. The J-07 sidetrack, currently under way, will incorporate a new completion design and is expected to be on stream in early 2012,’’ it said.

The report said, ‘’These completion issues are not expected to have any impact on field resources. The resolution of these issues and contribution of the phase 1A wells will allow field production to pump up to full capacity later in 2012. The jubilee phase 1A Plan of Development, the report said, was awaiting government approval with drilling scheduled to start early 2012.