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Tullow Oil downplays worries over possible damages to wells

As oil and gas industry Analysts raise concerns about the possible danger the further delay of the Gas infrastructure poses to the Jubilee oil field, Tullow Oil insists, wells holding the gas are safe.

Technical Analysts in the industry have already intimated to Citi Business News, the oil wells storing gas on the Jubilee field can longer do so beyond June this year.

This means the Gas infrastructure being constructed to receive the gas from the Jubilee field should be completed in three months or risk damaging the Jubilee field.

But the Finance Minister, Seth Tekpeh has also announced the project will be completed by September.
Despite the looming danger, the Head of Media Relations for Tullow Oil Plc, George Cazenove insists they can hold on till the third quarter of this year.

“My understanding is that we can cope with the gas we have up to now. There is gas involved in this project. And we have coped with it up unto now. We are also assured by the Ghana gas company in the third quarter and so we won’t make a forecast out of that if we were not comfortable. We will be misleading our shareholders if we did so.”

According to him, due to the result of the company’s forecast for the year, “we will also do these things safely, and that’s the first thing. We don’t flare- we said we don’t set flare and that’s if for safety reasons. Thirdly, perhaps most importantly the jubilee field for Tullow as a group is an important priced asset, so why would we do anything to damage it either?”

“We are not going to damage the reservoir, we are not going to flare and we are not going to make forecast that we don’t believe we can keep” George Cazenove concluded.

The $700 million gas infrastructure project will process gas from the Jubilee Field for power generation.
The facility is expected to process about 150 million standard cubic of gas a day.

Source: Citifmonline

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