Tullow Oil has announced that it has started a multi-year, multi-well drilling campaign offshore Ghana with the commencement of drilling of the first well at the Jubilee field.
Maersk Venturer has been contracted for four years to drill four well in total in 2021, consisting of two Jubilee production wells, one Jubilee water injector well and one TEN gas injector well.
The drilling campaign is the first part of Tullow’s 10-year Business plan which was presented at the firm’s Capital Markets Day in November 2020; according to the company, the Ghana portfolio has a large resource base with extensive infrastructure already in place.
Through a rigorous focus on costs and capital discipline, Tullow said it believes that these assets have the potential to generate material cash flow over the next decade and deliver significant value for Ghana and investors.
Throughout the campaign, it will continue to implement its Shared Prosperity strategy through a strong local content programme with suppliers in Ghana, the professional and technical development of Ghanaian nationals and continued investment in STEM education, enterprise development and shared infrastructure.
The Chief Executive Officer, Rahul Dhir, said: “Today is an important milestone in the implementation of our long-term Business Plan. Working closely with the Government of Ghana and our joint venture partners in Ghana, I am confident that we will unlock the full potential from the Jubilee and TEN fields through this multi-year, multi-well drilling programme.”
Tullow Oil is an independent oil and gas exploration and production company. The Group has interests in over 50 exploration and production licences across 11 countries.