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.

Tullow’s second major discovery 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. First oil was achieved on time and on budget in August 2016, three years after the Plan of Development was approved by the Government of Ghana.

In March 2022, Tullow completed the pre-emption related to the sale of Occidental Petroleum's interests in the Jubilee and TEN fields in Ghana to Kosmos Energy for a total consideration of $126 million. The transaction took Tullow's equity interests to 39.0% in the Jubilee field and to 54.8% in the TEN fields.

Current activities

Gross oil production from the Jubilee field averaged 83.4 kbopd (32.5 kbopd net) in 2023.

Gross oil production from the TEN fields averaged 18.4 kbopd (net: 10.1 kbopd) during 2023.

The start-up of production from the Jubilee South East project in July 2023 was a landmark event, marking a step change in the field’s production with average daily rates c.30% higher in the second half of the year compared to the first half with rates reaching levels over 100 kbopd.

Five new Jubilee wells (three producers and two water injectors) are scheduled to come onstream in 2024.

Net gas production in Ghana averaged 6.4 kboepd in 2023 and marked the first commercialisation of associated gas from the Jubilee field.

Jubilee Unit Area - Participating interests