Tullow Oil: Ghana Offshore Production A Year Away
October 28 2009 - 11:51AM
Dow Jones News
Tullow Oil Ghana will start producing from the offshore Jubilee
oil field in just over a year, an official said Wednesday.
The official, who didn't want to be named, said production is
368 days away, but wouldn't say how much is expected to be produced
when full operation begins.
Jubilee is estimated to have between 600 million to 1,200
million barrel of reserves.
The spokesman also said the operations wouldn't be affected by
operator Kosmos Energy's decision to sell its 30.875% stake in the
field ExxonMobil has agreed to pay $4 billion for the stake, but
that could be disrupted by China National Offshore Oil Co. (CEO),
which is contemplating a rival bid in collaboration with Ghana
National Petroleum Corp.
"Our operations would however not be affected by whatever
happens to Kosmos because Tullow is committed to remaining in
Ghana," the spokesman said.
He also said Tullow is involved in prospecting in other areas
around the Deep Tano, Shallow Tano and the Chinebuah offshore
fields.
Asked if Tullow would move to prospect onshore, he said: "If the
Jubilee Fields prove successful, we might look at onshore
projects."
-By Francis Kokutse, contributing to Dow Jones Newswires;
00-233-246952248
(James Herron of Dow Jones Newswires in London contributed to
this article.)