Ghana’s two oil fields average 134,000 bopd production half year 2017 – Tullow

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Ghana’s two maiden oil fields, the Jubilee and Tweneboa-Enyenra-Ntomme(TEN) have recorded a combined average daily production of 134,000 barrels of oi...

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Ghana Investment - Oil and Gas

Ghana Investment – Oil and Gas

Ghana’s two maiden oil fields, the Jubilee and Tweneboa-Enyenra-Ntomme(TEN) have recorded a combined average daily production of 134,000 barrels of oil per day (BOPD) in first half 2017, operators Tullow oil of Britain has said.

In its Half year 2017 report received here on Wednesday, Tullow said the Jubilee production was 84,200 bopd, relative to the normal daily production “in excess of 100,000 bopd.”

Following the discovery of the issue with the turret bearing of the Jubilee FPSO Kwame Nkrumah in 2016, which has caused a slump in production levels Tullow has been able to continue production operations while seeking to convert the FPSO to a permanently spread-moored vessel.

The first phase of this work, involving the installation of a stern anchoring system, was completed in February 2017, after which the tugs maintaining the FPSO on heading control were removed. The FPSO is now anchored to the seabed with the turret bearing locked and the vessel held on a constant heading.

The dip in oil production levels due to the Turret Bearing challenges was one of the major causes in the contracting economic growth fortunes of the West African country in 2016, with full year economic growth estimates for 2016 falling to 3.5 percent.

The economic data released the Ghana Statistical Service (GSS) in June however showed that the economy expanded by 6.6 percent on a year-on-year basis in the first quarter of 2017, relative to 4.4 percent in the same period a year earlier.

Improved oil production was specifically cited as one of the key factors for the more favorable economic numbers and forecast for the country.

The Jubilee Partners and the Government of Ghana have agreed on the need to stabilize the turret bearing. A shutdown of between five and eight weeks is planned for late 2017 with work continuing to further reduce the length of this shutdown.

“Planning for the rotation of the vessel to its optimum heading and the installation of a deep water offloading system is ongoing and it is anticipated that this work will be executed in two stages in 2018 and 2019. The total shutdown duration for stabilization, rotation and offloading system installation is not expected to exceed 12 weeks,” Tullow reiterated.

The report added that work was progressing on the Greater Jubilee full field Development(GJFFD) plan expecting work to begin in 2018 as government of Ghana is expected to give approval for the Plan of Development (PoD) later this year.

“The TEN fields performed in line with expectations in the first half of 2017 and averaged 48,000 bopd with full year gross production guidance unchanged at 50,000 bopd . Production from the 11 wells drilled so far indicate reserves estimates for both Ntomme and Enyenra to be in line with previous guidance,” Tullow said.

The resumption of drilling of the remaining wells around the end of the year it said was subject to the outcome of the International Tribunal on the Law of The Sea (ITLOS) decision on the maritime boundary dispute between Ghana and Côte d’Ivoire; “ Completion of these wells should allow the TEN fields to increase daily production to the FPSO design capacity of 80,000 bopd.” Enditem

Source: Justice Lee Adoboe, Xinhua/Newsghana.com.gh

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