Africa-focused independent oil and gas firm, Tullow and its joint venture partners have announced the successful start-up of the Jubilee South East (JSE) Project, offshore, in the Republic of Ghana, West Africa.
According to Tullow, the first production well at the Jubilee South-East has been brought onstream and expects additional two production wells and one water injector to come on onstream this year to help sustain gross Jubilee production of over 100,000 barrels of oil per day (bopd).
The company, in a statement issued on Friday and copied to energynewsafrica.com, hinted that a ceremony would be organised to celebrate First Oil in Ghana during the third quarter of 2023.
“Tullow and its partners have invested US$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 local companies in Ghana, with more than 90% local workforce.
“This demonstrates the evolution of the Ghanaian supplier base that can now support substantial elements of its oil and gas industry and is a testament to Tullow and its partners’ commitment to developing local capacity,” Tullow said.
Tullow said its CEO, Rahul Dhir, who was excited about the new development, commented that the “successful start-up at Jubilee South-East is a significant milestone for Tullow and Ghana and I would like to thank all those who have played a role in bringing this near-field Ghanaian development into production. Through our strong project management and operating capability, we have delivered a complex offshore development which is one of the key catalysts to unlock value for our business. We are well-positioned for future growth with production ramping up in the second half of 2023 that will generate significant free cash flow. This marks the start of material deleveraging as we continue our transition into a low-debt business with the financial flexibility to pursue value accretive opportunities.”
On his part, Dr Matthew Opoku Prempeh, Ghana’s Minister for Energy, also said: “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.
“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 to leverage our God-given resources for the ultimate benefit of our people.”
Source: https://energynewsafrica.com
