Business News of Tuesday, 11 December 2012

Source: Vivian Kai Mensah

Oil production finally starts on the jubilee phase 1a project

Oil production on the jubilee oil field has finally reached 90,000 barrels of oil per day. This was after the much anticipated jubilee phase 1a project finally started production.

According to a statement from the Tullow Oil Plc, the phase 1a is currently producing crude at a rate of 16,500 barrels per day - boosting total output at the field to 90,000 bpd.

This is the first of five phase 1a producers which are planned to be completed before mid 2013.

The jubilee operators aim to further increase output this year through acid stimulation work on two phase 1 wells as well as bring online the second phase 1a well by year-end.

However the okure-1 exploration well has encountered low net to gross oil bearing reservoir in a secondary objective.