Since 2006, Tullow has had interests in two exploration licences offshore Ghana. Following seismic acquisition and interpretation, Tullow and its partners drilled two successful exploration wells in 2007. The wells discovered the major Jubilee oil field in the Gulf of Guinea’s Tano Basin. The Jubilee Cretaceous turbidite reservoir straddled both licences; Deepwater Tano and West Cape Three Points.
In October 2008, Tullow was appointed as the Jubilee field Operator and set about working with the partners and Government of Ghana on developing the field to bring Ghana its first major oil production. The Minister of Energy in Ghana formally approved the Jubilee field Phase 1 Development Plan and Unitisation Agreement on behalf of the Government of Ghana in July 2009. In November 2010, following a successful development programme, which included the building of a Floating Production Offtake Vessel (FPSO), first oil was achieved from the Jubilee field. This was some 40 months post the initial discovery well which represents the fastest ever comprehensive full scale deepwater development.
The field is Tullow’s key asset and generates significant high-margin oil production for the Group. In 2015, the field performed strongly with a stable gross production rate which averaged 102,600 bopd.
Tullow’s second major discoveries and subsequent development in Ghana is the TEN field.
In May 2013, the Plan of Development for TEN was approved by the government of Ghana and Tullow commenced its second major Operated deepwater development. By the end of 2015, over 85% of the project was completed with first oil on track for July/August 2016, using an FPSO with a gross facility design capacity of 80,000 bopd. Once both fields are on plateau production from 2017, Tullow’s current equity would result in net average oil production of over 70,000 bopd from Ghana.