Joint venture partners Tullow Oil, Kosmos Energy, Ghana National Petroleum Corporation and Petro SA have started up the Jubilee South East (JSE) project, offshore Ghana- The first production well has been brought onstream with a second expected to follow suit this month.
This would be a relief with the country’s production volumes having been on downward trend in the past four years.
The partnership plans to maintain this increased level of production at Jubilee over the next few years through an ongoing infill drilling program, identifying multiple future drilling locations. The JV is focused on high-grading these opportunities to further extend the plateau and realize the full potential of the significant Jubilee resource base.
Tullow Oil, as the operator, said the partnership has invested $1 billion over the last three years on the JSE project to drill wells and install the infrastructure needed to bring previously undeveloped reserves to production. The project has advanced the use of local suppliers and the majority of the complex offshore infrastructure has been fabricated by Ghana companies with more than 90 percent local workforce.
The project demonstrates the evolution of the Ghanaian supplier base, which can now support substantial elements of its oil and gas industry, and is a testament to the partnership’s commitment to developing local capacity, Tullow Oil said.
Kosmos chairman and chief executive officer Andrew G. Inglis said,
“This is a significant milestone for Ghana and for the partnership, with growing production expected to drive higher revenues for the country and partners for years to come. Delivery of Jubilee South East is the first of three major growth projects for Kosmos.
”This catalyst represents the inflection point of rising production and lower capital that we expect will flow through 2H23 into 2024.
We believe Jubilee has the potential to deliver in excess of a billion barrels of oil equivalent gross, generating material value for the people of Ghana, the partnership and our investors.”
“At the Ministry of Energy, we are delighted by this important milestone and wish to congratulate Tullow and the Jubilee partners who have contributed in diverse ways to this journey,” said Ghana Energy Minister.
“The approval of the Greater Jubilee Full Field Development Plan by the Ministry in October 2017 paved the way for investment in the development of the JSE project, which has now culminated in the delivery of the First Oil from the JSE area. The government of President Nana Addo Dankwa Akufo-Addo will continue to work with all our strategic partners with a view to leveraging our God-given resources for the ultimate benefit of our people.” Dr. Matthew Opoku Prempeh for Ministry of Energy.
