Gulf Oil and Gas accountACCOUNT

Jubilee Phase 1 Development Plan Formally Approved

Source: www.gulfoilandgas.com 7/15/2009, Location: Africa

Tullow Oil plc announces that on 13 July 2009, 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.

The Jubilee field will be developed via a Floating, Production, Storage and Offtake vessel (FPSO) and will deliver a plateau oil rate of 120,000 bopd, water injection capacity of 230,000 bwpd and gas export and injection capacity of up to 160 mmscfd. Work on the FPSO and subsea facilities was initiated in July 2008 and is on track to deliver first oil in the second half of 2010.

The Unitisation Agreement has determined the partners’ initial equity interests in the Jubilee field and provides for modification of these interests as further field data becomes available. Tullow’s initial equity interest in the Jubilee Unit Area, which Tullow will operate, is 34.70%. Other partner interests are Kosmos Energy (23.49%), Anadarko Petroleum (23.49%), Sabre Oil & Gas (2.81%), EO Group (1.75%) and the Ghana National Petroleum Corporation (GNPC) (13.75% of which 10% is carried interest).

Commenting today, Paul McDade, Chief Operating Officer, said:
“Receiving formal approval from the Government of Ghana is an important milestone for the Jubilee Phase 1 development and supports our decision to fast-track the project early in 2008. By securing rig capacity and commencing the construction and drilling phases in advance, Tullow is confident that it will deliver first oil from this deepwater project just over three years since the first discovery well was drilled.”

Oil Field Services News in Ghana >>

Egypt >>  2/18/2021 - The Egyptian Ministry of Petroleum and Schlumberger announced the launch of the Egypt Upstream Gateway, an innovative national project for the digital...
Egypt >>  2/18/2021 - Petroleum Minister Tarek el Molla announced the launching of the first international tender for petroleum and gas exploration for 2021 in 24 areas in ...

Egypt >>  2/17/2021 - TechnipFMC (FTI) has been awarded a significant integrated Engineering Procurement Construction and Installation (iEPCI™) contract by NIpetco and Petr...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Ghana Oil & Gas 1 >>  2 | 3 | 4 | 5 |

More News

Related Links

AO BJ BW CD CG CI CM DZ EG ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.