Tullow Oil Ghana has insisted that the Jubilee Field will produce a maximum capacity of 55,000 barrels a day when commercial production begins, contrary to earlier reports that it might produce below the target.
A Deputy Minister of Information Okudzeto Ablakwa told Citi Business earlier that the number of barrels could be less than expected but Tullow Oil Ghana in a statement copied to Citi Business say the field will be capable of flowing up to 55,000 barrels of oil per day at first production.
The statement added that as new wells are completed over a three to six month period, production will increase to 120,000 barrels per day.
The Floating Production, Storage and Offloading Vessel (FPSO) was on Sunday used to commission processing systems and facilities ahead of first oil.
The Communications Manager of Tullow Oil, Gayheart Mensah told Citi Business that the Jubilee partners are delighted about how close Ghana is to becoming an oil producing nation.
“This is a moment of pride, a moment of achievement, not only for the partnership but for the government and people of Ghana who have in diverse ways contributed to this great achievement.
“There was a lot of skepticism about the capacity and capability of the jubilee partners to deliver on their promise to deliver first oil within three and half years. Normally in countries that are not producers of oil such discovery takes about 8 years or thereabouts to get to the level of production. For the partners there is a sense of pride, of achievement.”
The Jubilee partners are Tullow Oil plc with 34.70% share, Anadarko Petroleum Corporation with 23.49%, Kosmos Energy has 23.49% while the Ghana National Petroleum Company (GNPC) (13.75%). Sabre Oil and Gas hold (2.81%) and E.O. Group (1.75%).
The historic event will be celebrated at a ceremony hosted by His Excellency John Atta Mills. It will be broadcast live on national television and could also be monitored live on Tullow’s Ghana website (www.tullowoil.com/Ghana).