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Tullow Oil to review production forecast in Ghana

tullow-oil-plc Tullow Oil has said it is to review its 2015 production forecast for its Jubilee field offshore Ghana due to continued technical difficulties at the site.

Gas export has been suspended since July 3rd after an unplanned shutdown on a floating production vessel at the field. Exports are not expected to resume until mid-August, the firm said in an update.

Oil production is currently constrained to approximately 65,000 barrels of oil per day (bopd) but Tullow said there was no effect on the field’s reservoir or resources.

The company said it had mobilised a team of experts to rectify the fault within the gas compression system and estimated that it will take approximately three weeks to reinstate gas export and full oil production.

Earlier this month, Tullow raised its production forecast after a strong performance from its West African fields, including Jubilee.

The company upped its guidance for 2015 to as much as 70,000 barrels of oil equivalent a day from a previous upper range of 68,000 barrels on July 1st.

Tullow said on Monday that following the suspension of gas export, it is to review its 2015 production forecast for Jubilee and will provide an update on progress at its half yearly results on July 29th.

Source: http://starrfmonline.com/1.5348952

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