On the 8th of September 2023, President Nana Akufo-Addo honored the FPSO Kwame Nkrumah with his presence to inaugurate the valve, marking the official commencement of oil extraction from the Jubilee South Area.
The prospects for the Jubilee South-East Area are very promising, as it is expected to contribute an additional 30,000 barrels of oil per day to the greater Jubilee Field.
This initiative is aimed at increasing the total oil production from the Jubilee Field to 100,000 barrels per day by the end of this year.
The Jubilee South-East Area project serves as a testament to the collaborative efforts of its partners who have collectively invested a substantial $1 billion into this joint venture.
President Akufo-Addo emphasized that this achievement underscores the government’s unwavering commitment to the growth of Ghana’s petroleum industry.
This joint venture consists of six oil companies, including Tullow Oil, Kosmos Energy, Kosmos Energy Ghana Investments, Ghana National Petroleum Corporation, PetroSA, and Jubilee Oil Holdings Limited.
Energy Minister Mathew Opoku Prempeh, who accompanied the president during the valve activation, highlighted the project’s focus on promoting local content. He remarked, “The project’s remarkable success, achieved in record time through exceptional cooperation between the operator and the Ministry of Energy, demonstrates significant progress since its initiation in 2021.”
Wissam Al-Monthiry, Chief Executive of Tullow, expressed enthusiasm for the substantial boost in production, seeing it as a significant advancement for the greater Jubilee Field.
Egbert Faibille, Chief Executive of the Petroleum Commission, extended congratulations to the Jubilee partners for their commendable work on the Jubilee South East Project. He also emphasized the involvement of local companies, such as Orsam Oil and Gas, in fabricating key subsea installations, promoting local content.
As the Jubilee partners plan further investments for field expansion and development, it is expected that the local community will benefit through increased job opportunities and contracts.
A few months ago, Tullow Oil Plc announced the commencement of production from the Jubilee South East (JSE) Project, offshore Ghana.
The first JSE production well has already begun operations, and two more producers and one water injector are expected to come online this year to help maintain gross Jubilee production above 100,000 bopd.
Tullow and its partners intend to sustain this increased level of production at Jubilee through an ongoing infill drilling program. They have identified multiple future drilling locations to extend the plateau and fully utilize the Jubilee resource base.
Over the last three years, the consortium has invested approximately $1 billion in the JSE Project to drill wells and install the necessary infrastructure for production. This project has prioritized local suppliers, with more than 90% of the offshore infrastructure being fabricated by local companies in Ghana, fostering local workforce development.
Rahul Dhir, Chief Executive Officer of Tullow, expressed his gratitude for the collaborative effort that led to this significant milestone, highlighting the positive impact on Ghana and Tullow’s future growth prospects.
Dr. Matthew Opoku Prempeh, Minister of Energy, Ghana, also praised the milestone and reaffirmed the government’s commitment to leveraging the country’s natural resources for the benefit of its people.