Daniel Terungwa

Oil and gas company Tullow Oil has announced that it has commenced a multi-year, multi-well drilling campaign offshore Ghana.

The campaign started with the drilling of the first well at the Jubilee offshore field recently.

The 2021 drilling campaign is the first part of Tullow’s 10-year Business Plan which was presented at Tullow’s Capital Markets Day in November 2020. The Ghana portfolio has a large resource base with extensive infrastructure already in place.

According to the company, Maersk Drilling’s Maersk Venturer drillship is expected to drill four wells in total in 2021, consisting of two Jubilee production wells, one Jubilee water injector well and one TEN gas injector well.

Chief Executive Officer, Tullow Oil plc, Rahul Dhir tagged the programme a milestone achievement, he is optimistic that the multi-well drilling campaign would yield huge benefits for Ghana at large.

“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.

“Through a rigorous focus on costs and capital discipline, Tullow believes that these assets have the potential to generate material cash flow over the next decade and deliver significant value for Ghana and investors,” Dhir said.

Tullow Oil is a well-established and recognised oil explorer and producer, operating with a portfolio of over 50 licenses spanning across 11 countries majorly in Africa and South America.

In October 2008, the company 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.