Tullow Oil has announced that its Jubilee South East project’s gross production has surpassed an impressive 100,000 oil-barrels per day. This milestone was achieved after the successful introduction of a second well into operation.
Situated offshore Ghana, the two wells have been performing exceptionally well and have substantially increased production rates, achieving a remarkable 50% boost compared to the first half of 2023.
Tullow Oil’s Chief Executive, Rahul Dhir, expressed the company’s satisfaction with the latest production leap, emphasizing that it is a pivotal aspect of their business strategy. This accomplishment aligns with their commitment to generate over $800 million of free cash flow from 2023 to 2025.
“For Tullow, delivery of this step up in production is a key part of our business plan, in line with our commitment to deliver over $800 million of free cash flow between 2023 to 2025,” Chief Executive Rahul Dhir said.
Mr. Dhir underlined the significance of exceeding the 100,000 barrels per day mark from the Jubilee Field, stating that it is an important achievement not only for Tullow but also for their partners and Ghana. This success marks a crucial turning point in the company’s operations and further solidifies its position in the oil and gas industry.
“I look forward to working with our partners to sustain these higher levels of production for several years and to realise the full potential of the Jubilee resource base”.
Tullow and its partners intend to maintain this increased production level at Jubilee over the coming years through an ongoing infill drilling programme.
The partnership has identified multiple future drilling locations and is focused on prioritizing these opportunities to further extend the plateau and unlock the full potential of the substantial Jubilee resource base.