Tuesday, 20 April 2021

Looking for more oil: Tullow commences drilling at Jubilee Field


 


Adnan Adams Mohammed


In bid to increase oil production from Ghana's first oilfield, Jubilee field, Tullow Oil PLC has begun a multi-year, multi-well drilling campaign offshore Ghana.

Maersk Venturer is the contractor engaged to drill four wells in 2021; two Jubilee production wells, one Jubilee water injector well, and one TEN field gas injector well.

In a press statement released issued last week and signed by Tullow Chief Executive Officer indicated that, as previously announced, the Maersk Venturer is expected to drill four wells in total in 2021, consisting of two Jubilee production wells, one Jubilee water injector well and one TEN gas injector well. It assured that, Tullow will work closely with the government and its other partners to unlock the full potential of the Jubilee and TEN fields.

“Today is an important milestone in the implementation of our long-term Business Plan. Working closely with the Government of Ghana and our joint venture partners in Ghana, I am confident that we will unlock the full potential from the Jubilee and TEN fields through this multi-year, multi-well drilling programme,” Rahul Dhir said.

The company launched a 10-year business plan at its capital markets day, in November 2020. Ghana is at the heart of this plan.

Through a rigorous focus on costs and capital discipline, Tullow believes that these assets have the potential to generate material cash flow over the next decade and deliver significant value for Ghana and investors.

The release added that throughout the campaign, "Tullow will continue to implement its Shared Prosperity strategy through a strong local content programme with suppliers in Ghana, the professional and technical development of Ghanaian nationals and continued investment in STEM education, enterprise development and shared infrastructure".

The Ghana portfolio has a large resource base with extensive infrastructure already in place.

0 comments: