Jubilee Oil Field
The Jubilee Oil Field is an oil field located off the coast of the Ghana's Western Region in the South Atlantic Ocean under the ownership of the National Petroleum Authority and the Ghana National Petroleum Corporation.
|Jubilee Oil Field|
|Location||South Atlantic Ocean|
|Operator||Tullow Oil - 35.48%|
Kosmos Energy - 24.1%
Occidental Petroleum - 23.4%
Ghana National Petroleum Corporation - 10%
PetroSA Ghana - 4.05%
|Start of development||2007|
|Start of production||2010|
|Current production of oil||150,000 barrels per day (~7.5×106 t/a)|
|Estimated oil in place||368 million tonnes|
(~ 500×106 m3 or 3000 MMbbl)
|Estimated gas in place||34×109 m3|
1.2×1012 cu ft
Equity partners of the Deepwater Tano block are Tullow with 49.95%, Kosmos with 18%, Oxy with 18%, PetroSA Ghana with 4.05%, and Ghana National Petroleum Corporation (GNPC) with 10%.
West Cape Three Points is held by Tullow with 22.9%, Kosmos with 30.88%, Oxy with 30.88%, PetroSA Ghana with 1.85%, GNPC with 10%, and EO Group with 3.5%.
The Jubilee appraisal and development programme began at the end of 2008 and the Odum, Mahogany-2, Heydua-2 and Mahogany-3 wells were drilled.
Parallel to the appraisal drilling programme, phase I development of the core field has progressed at a rapid pace since July 2008. Tullow is the operator and Kosmos Energy is the technical operator of the phase I development plan.
The tanker vessel Ohdoh was converted for the Jubilee field and christened the floating, production, storage and offloading (FPSO) vessel Kwame Nkrumah MV21.
Jubilee offshore oilfield began production in 2010 and produces oil. The total proven reserves of the Jubilee oil field are around 3 billion barrels (480,000,000 m3), and production is centered on 150,000 barrels per day (24,000 m3/d).
Tullow Oil failed to meet production targets at the Jubilee oilfield at the end of 2012, causing problems for the firm and the Ghanaian government. The declining productivity led to declining revenues for the government who had budgeted for oil revenue of more than $650 million. The corresponding shortfall was more than $410 million. The oil firm blamed the decline on “sand contamination of the flowlines that carry the oil from the underwater wells” to the storage facility on the surface.
- "Ghana leader: Oil reserves at 3B barrels – Yahoo! News". Web.archive.org. 22 December 2007. Archived from the original on 26 December 2007. Retrieved 21 December 2010.
- "Jubilee Field, Ghana". offshore-technology.com. 2010. Retrieved 2011-01-03.
- Tullow Oil’s projections cause budgetary worries in Africa, Liberia: GNN Liberia, 2013
- Ghana, Government of. "Ghana's second major oil field Tweneboa-Enyenra Ntomme to pour fist oil in 2016". ghanatrade.gov.gh. Retrieved 29 May 2017.