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BOOST TO JUBILEE OIL

Remedial work to rectify well productivity issues in Ghana’s Jubilee Field, currently producing at an average of 67,000 barrels of oil per day (bpd), is progressing steadily and expected to boost daily production before the end of 2012

Additionally, following Government approval for the Phase IA development in January, which will include five additional producing wells and three water injection wells, the first well was drilled in April and first production from the Phase IA development is expected in the fourth quarter of 2012.

The remedial work to rectify the well productivity issues included “the sidetracking and installation of an alternative completion design in one of the affected wells and, in parallel, a programme of acid stimulations,” Tullow Oil plc announced in an Interim Management Statement issued ahead of the Group’s Annual General Meeting in compliance with EU Transparency requirements.

The Statement, covering the period January to May 16, says initial results from the remediation programme are encouraging and expected to continue over the coming months, with gross production expected to average between 70,000 and 90,000 bpd in 2012 and field capacity reached in early 2013. The Jubilee Field, which commenced commercial production on 28″‘ November, 2010 was estimated to be producing at a peak of 120,000 bpd, which is the production capacity of the floating, production, storage and offloading vessel, FPSO Kwame Nkrumah. The Field, according to the report, has produced cumulatively 33 million barrels of oil, and there had been 34 liftings.

In the Deep Water Tano licence, Tullow reports that excellent progress was also made on the Tweneboa-Enyenra-Ntomme (TEN) appraisal programme over the period, with three wells drilled. The three wells were: Enyenra-4A, a down-dip appraisal well, which encountered good oil bearing sands and proved a continuous oil column in the Enyenra field of approximately 600 metres; Owo-IRA, the re-drill of the original Enyenra discovery well, which was tested during the period at a co-mingled rate of approximately 20,000 bopd and Ntomme-2A, a down-dip appraisal well, which discovered high quality oil bearing reservoirs. Already, technical work on the TEN development, which includes the FPSO design completion, sub-sea FEED and associated tendering is progressing to plan, Tullow reports, adding that the schedule to submit the Plan of Development to Ghana’s Minister of Energy is on track for submission during the third quarter.

First production from the TEN project is expected approximately 30 months after receipt of Government approval. Tullow continues with exploratory activities in the Deep Water Tano licence, with exploration drilling commenced on the Wawa prospect, to be followed by the Okure (previously Tweneboa Turonian-Deep) and Sapele wells, prior to the end of the exploration period in January 2013. In the West Cape Three Points licence, apart from the Teak-4 appraisal encountering non-commercial reservoirs, Tullow reports that discussions are on-going in relation to “further appraisal and development plans for the Mahogany, Teak, Akasa and Banda discoveries.” With a promise to announce The Group’s half yearly Trading Statement and Operational Update on 4th July, 2012 and half year results on 25th July 2012, Tullow said its ”performance to date in the first half has been excellent.”

The Group completed a $2.9 billion farm down to CNOOC and Total, following two Production Sharing Agreements (PSAs) with the government of Uganda in February, and is now progressing with exploration, appraisal and development activities. The programme includes “up to 20 Exploration and Appraisal wells, well testing and the acquisition of further 3D seismic and gravity data.” Additionally, the Ngamia-1 well onshore Kenya has opened a new basin and de-risked significant prospectivity in the region, the statement observed.

Again, Tullow says its production performance elsewhere in West & North Africa is in line with expectations. It says the Group’s Equatorial Guinea assets have performed strongly following first oil from the Akom North tie-back to the Okume Complex in January and good results from the planned well work over and infill drilling campaign on the Ceiba field, which commenced at the beginning of the year. Tullow expressed satisfaction with production performance from its Gabon assets, which is as expected and delivery of the programme of development wells is ongoing. “On the Kowe licence, the Tchatamba South B-9 appraisal well was successfully drilled in April, encountering high levels of net pay in four stacked reservoirs and this will now be brought online,” the Group disclosed.

Furthermore, Production from Mboundi field in Congo (Brazzaville) has stabilized, following infill drilling and well workover programmes in the first quarter of 2012. Elsewhere in the West African Equatorial Atlantic, exploration continued during the period, with the Jupiter-1 exploration well discovering 30 metres of hydrocarbon pay in Sierra Leone. The Mercury-2 well, which was subsequently drilled, also showed oil. Tullow undertook various exploration activities in Cote d’lvoire, with some results expected in June. Tullow reported also on progress it is making in other parts of the continent, Europe, South America and Asia. With its capital expenditure for 2012 expected to be in the region of US$2.0 billion, Tullow said its Uganda farm-down and strong production performance give it “a firm financial foundation to carry out its extensive work programmes in Africa and the Atlantic margins.”

“Having delivered industry-leading basin-opening exploration success already this year, and with key developments progressing well, the Group will deliver further significant growth in 2012,” Tullow stated of its outlook.

Source: The Business Analyst

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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