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Business News of Thursday, 27 April 2017


Jubilee Fields to shut down

Jubilee Oil Field Jubilee Oil Field

The Jubilee Oil field would be shut down again during the second half of this year to allow for the completion of repair works on the vessel.

The turret bearing of the FPSO Kwame Nkrumah developed a fault last year, resulting in a prolonged shut down which affected oil production. Although the problem has been partially resolved, the vessel is still not able to produce at its utmost capacity.

Another shut down could impact power supply. But Vice President and Country Manager of Cosmos Energy, Joe Mensah one of the operators of the Jubilee Fields told Starr Business, the shutdown is necessary to ensure higher production volumes on the FPSO.

“Today Production in Jubilee is over 100,000 barrels a day and once we have to do those type of works we might have to shut down a few weeks here and there to engage in normal steps in work”.