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Tullow optimistic of meeting daily target of 120,000 barrels

Tullow Oil is confident of meeting the daily target of 120 thousand barrels of crude oil daily next year.

This has been influenced by plans to begin work on its Phase 1A project – a separate area away from the main Jubilee field from October.

The oil exploration firm postponed the peak target citing some technical challenges with production wells.

But speaking in a conference call in London with investors, the company’s Exploration Director, Angus McCoss says they have now fixed the problem.
Group Head of Media Relations, George Cazenove later told Joy Business they are on track to meet the target.

Meanwhile, commercial production at the country’s next major oil field Tweneboa- Enyenra-Ntomme is now expected to begin in 2014. This is after it receives approval from Government on the plan of development by September this year.

The field holds about a billion barrels of crude and it’s expected to produce about 100 thousand barrels a day.

 

http://business.myjoyonline.com/pages/news/201207/89576.php

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