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Tullow Oil’s Jubilee South East project has been launched by Ghanaian President Nana Akufo-Addo. The company announced the start of production from the jubilee extension by mid-July. Within three days, the addition of the two extra wells had propelled Jubilee over the 100,000 barrel-per-day mark.
Tullow Oil’s Jubilee South East project has been launched by Ghanaian President Nana Akufo-Addo. The company announced the start of production from the jubilee extension by mid-July. Within three days, the addition of the two extra wells had propelled Jubilee over the 100,000 barrel-per-day mark.
This demonstrated exceptional commitment in making this achievement possible and is truly a moment of joy for Ghana, a testament to what collaboration and strategic partnerships can do, stated the President. This triumph augments Ghana’s confidence in other prospects across the nation and singles out the potential of further investment prospects in Tullow’s TEN project.
The president put the project price tag at $1 billion, with the aim of maintaining production from Jubilee at 100,000 bpd by the end of the year. The TEN field, rich with substantial natural gas reserves, is pivotal to Ghana’s gas production and the stability of the nation’s power sector in the coming years.”
Ghana is committed to making progress on the gas sales agreement between Tullow, partners, and the government. The President also highlighted the role of local content in the energy sector. The aim, he said, was that local Ghanaians would be able to participate fully in the industry. In order to do this, Ghana will have to strengthen all training vehicles, such as the Accelerated Oil and Gas Capacity Building Programme.
The President further said that Ghanaians must have the relevant certification to become competitive and play a fuller role in the industry. That fuller role will be most effectively anchored when we ensure Ghanaian equity participation in the upstream development of our oil and gas resources.
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Ghana passed a local content law in 2013 and amended the rules in 2022. Other partners in the Jubilee project include Ghana National Petroleum Co. (GNPC), Kosmos Energy (LON-KOS), Jubilee Oil Holdings, and PetroSA.
