You are here: HomeNews2022 01 18Article 1447366

Business News of Tuesday, 18 January 2022

Source: www.ghanaweb.com

Today in History: Tullow gears up to drill seven wells

With the activation of the new wells, Tullow expects to generate 180,000 barrels of oil a day With the activation of the new wells, Tullow expects to generate 180,000 barrels of oil a day

In 2019, Tullow oil forecasted more than US$2bn returns from the drilling of seven wells in the Jubilee and TEN oil fields.

It also expected that, with the activation of the new wells, it would be able to generate 180,000 barrels of oil a day raising its overall gross oil production per 2019 production forecast.

Tullow also expected a 2019 average gross oil production from the Jubilee field to increase to around 96,000 bopd (net: 34,000 bopd).

Read the full story originally published on January 18, 2019 by GoldstreetBusiness

Tullow Oil is gearing up to drill seven oil wells in the Jubilee and TEN Oil fields this year. Managing Director, Kweku Awotwi stated the new wells will fetch it more proceeds than the US$2bn secured last year.

With the activation of the new wells, Tullow expects to generate 180,000 barrels of oil a day raising its overall gross oil production per 2019 production forecast.

Gross production from Jubilee in 2018 averaged 78,000 bopd (net: 27,700 bopd) slightly below the Group’s November forecast due to minor operational issues in December, which Mr. Awotwi says have been resolved. Tullow’s net production from Jubilee in 2018, including estimated production-equivalent insurance payments of 8,600 bopd, was 36,300 bopd.

Tullow expects 2019 average gross oil production from the Jubilee field to increase to around 96,000 bopd (net: 34,000 bopd).

Join our Newsletter