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Tullow says first Jubilee tanker expected in January

StockMarketWire.com

– Oil and gas company Tullow Oil plc said the first tanker of oil from the Jubilee field offshore Ghana is expected to be exported in January.

Tullow and its partners were celebrating first oil from Jubilee at a ceremony today (Dec 15) to be attended by the country’s president, John Atta Mills, and broadcast live on Ghana TV.

Oil first flowed into the FPSO (floating production, storage and offloading) system on November 28 and has been used to commission the facilities.

Tullow said the production rate will initially increase to 55,000 barrels of oil per day and then to 120,000 barrels as new wells are completed over the next three to six months.

The Jubilee partners are Tullow with 34.70%, Anadarko (23.49%), Kosmos Energy (23.49%), GNPC (13.75%), Sabre Oil and Gas (2.81%) and E.O. Group (1.75%).
http://www.stockmarketwire.com/display/?id=4034802&sectionId=standardNews

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