(Source: Datamonitor)trackingVitol SA, an oil and gas company, has received a contract to be the exclusive marketer of Tullow Oil’s share of production from the Jubilee field, offshore Ghana. First Oil is expected on December 15, 2010.
First Oil is expected on December 15th 2010. Jubilee crude oil is a light, sweet crude oil that was discovered offshore Ghana in 2007. The field is situated in the Deepwater Tano and West Cape Three Points licenses some 60km offshore Ghana and 130km west southwest of the port city Takoradi. Total production is expected to be around 120,000 barrels per day, the company said.
"First Oil from the Jubilee Field is an historic day for Ghana and for Tullow Oil " said Ian Taylor, President and CEO of the Vitol Group, "We are very pleased to have been awarded this contract to market Tullow’s share. Our global network, knowledge of the West African crude oil market and close relationships with the refining sector gives us a strong base from which to market this crude and maximize its value"