Tullow Oil has announced it will drill at least two more wells commencing February 2018.
It said it has secured the Maersk Venturer rig to be “used across the TEN and Jubilee fields and has been contracted for up to four years with favourable early termination provisions.”
“The first well planned is an Ntomme production well in the TEN fields followed by a Jubilee production well located in the north-eastern area of the field. Work is ongoing to finalise the sequence of further wells to optimise output from both the Jubilee and TEN fields. Tullow and its Joint Ventures Partners continue to evaluate the business case for contracting a second rig that would allow the acceleration of drilling on the TEN and Jubilee fields,” Tullow announced in a Trading Statement and Operation update.
The statement said the company’s West Africa 2017 oil production exceeded expectations for the year averaging 89,100 bopd – barrels of oil per day, a common unit of measurement for volume of crude oil.
“Tullow’s West Africa 2017 oil production exceeded expectations for the year averaging 89,100 bopd. This includes 7,400 bopd of net production-equivalent payments received under Tullow’s Corporate Business Interruption insurance for the Jubilee field. In Europe, working interest gas production performed in line with expectations with full year net production averaging 5,600 boepd.
“In 2018, working interest oil production, including production-equivalent insurance payments, is expected to average between 82,000 and 90,000 bopd. Working interest gas production, which includes TEN associated gas sales and the impact of the Netherlands assets sales in 2017, is expected to average between 3,500 and 4,500 boepd. This brings overall Group production guidance, for both oil and gas, to between 86,000 and 95,000 boepd,” it added.