Lowering global crude prices notwithstanding, Ghana?s Jubilee field continued with a strong performance in the first half of 2015, Operators, Tullow Oil have said.
The Trading Statement and Operational Update issued last week said performance has remained strong averaging around 105,000 barrels of oil per day (105,000 bopd) gross over the six-month period.
This has brought Tullow?s own net production to 37,300 bopd during the period under review.
For the corresponding period last year, gross production for the field averaged approximately 103,000 bopd in line with expectations.
The Group had expressed confident then of achieving its full year average Jubilee field gross production target of 100,000 bopd.
?We have taken a number of important steps to ensure that Tullow remains on a firm financial footing. This approach is paying off with good progress across the business in the first half of 2015.
?Our major oil producing assets in West Africa have performed strongly and we have upgraded our 2015 full year production forecast accordingly,? Aiden Heavey, Chief Executive (CEO) of Tullow commented.
The statement said the Tweneboa-Enyenra-Ntomme (TEN) development project as fast progressing within budget and on course to meet the first oil date in the middle of 2016.
?Important milestones on the project achieved during the second quarter included: the running of the first two of ten (10) well completions; the installation of the turret on the bow of the FPSO; and the first in-country fabrication works made ready for the start of the offshore installation campaign in mid-July,? the statement disclosed.
It said specialist subsea manifolds and umbilicals from the USA were also made ready for transport to Ghana.
The statement said: ?Following the 25 April ruling from the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) on Provisional Measures, discussions are ongoing with the Government of Ghana on their implementation and no impact is expected on project activity to first oil.?
Tullow added that its operations in East Africa, were also making steady progress towards project sanction with good appraisal and test results from its wells in Northern Kenya and strong support from the Governments of Kenya and Uganda.
?Finally, we continue to build our inventory of exploration prospects to provide options when market conditions improve,? it stated.
Source: Ebenezer Sabutey