Tullow Oil PLC (TLW.LN) said Monday the Jubilee field offshore
Ghana
will
flow its first oil on schedule Dec. 15 and will immediately be capable of
producing 55,000 barrels a day.
"As new wells are completed over a three- to six-month period, production
will increase to 120,000 barrels a day," Tullow said in a statement.
The 1.5-billion-barrel field was discovered in June 2007 and has been
fast-tracked to production by Tullow and its partners Anadarko Petroleum Corp. (APC)
and Kosmos Energy.
The Jubilee discovery has opened up a new oil basin offshore
West
Africa
. Tullow has discovered another 1.4-billion-barrel field, called
Owo-Tweneboa, and Anadarko has made further oil discoveries offshore
Sierra
Leone
.
At 1445
GMT Tullow shares were down 0.9% at 1171 pence.