TULLOW OIL TO DRILL MORE WELLS IN ITS CONCESSION OFFSHORE GHANA AFTER RESOLUTION OF BORDER DISPUTE

ACCRA, Tullow Oil says plans are underway to resume drilling next year in its concession offshore Ghana to boost output at its Tweneboa, Enyenra, Ntomme (TEN) field once the maritime border dispute between Ghana and Cote d’Ivoire is resolved, says Charles Darku, the Tullow Ghana Managing Director.,

He told shareholders here Wednesday that the drilling of the new wells would help increase production by Tullow to 80,000 barrels per day (bpd) from the current level of 50,000 bpd.

The International Tribunal for the Law of the Sea is set to rule on the maritime border dispute in late 2017. “We are looking to the Ghana government to reach a resolution on that to enable us immediately to resume drilling new wells to boost production, Darku said.

The offshore TEN field blocks came on stream in August last year.

Darku said since no well could be drilled until after the ruling, Tullow was managing the existing wells in a prudent and sustainable manner and would seek additional reserves to extend its production life while investing in new exploration opportunities beyond its Jubilee and TEN fields.

Touching on the Jubilee field remediation and future production, Darku said the Turret remediation project was on track.

The next phase of the project would involve modifications to the turret systems for long-term spread-moored operations, adding that detailed planning for the works was ongoing with government and joint venture partners to take the final decisions within the first half of 2017.

He said work was expected to be carried out in the second half of 2017 with an anticipated shutdown of up to 12 weeks.

Darku said Tullow was targeting its Greater Jubilee Full Field Development Plan which aims to extend field production and increase commercial reserves in the second half of 2017.

Tullow would also commence drilling in early 2018 to extend plateau and increase reserves in the field.

Referring to gas production, Darku said Tullow was working in close collaboration with Ghana Gas to optimise gas usage, adding that the strategy was to maximise gas supply to Ghana. The Jubilee field’s gas supply was increasing steadily and the completion of the TEN gas infrastructure would enhance the ability to supply more.

Paul McDade, the Group chief executive officer of London-headquartered Tullow, said the company would continue to focus on growth with high-impact exploration assets and would be well positioned to take advantage of market opportunities.

Source: NAM NEWS NETWORK

   

Related Posts