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Tullow targets drilling, completion of works on new wells in this year

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Tullow targets drilling, completion of works on new wells in this year


Tullow Oil is hoping to drill and complete work on seven new wells in Jubilee and TEN Oil fields this year. 

This was contained in the oil exploration firms trading statement released Wednesday.

Below is the full statement released.

In 2019, Tullow expects to drill and complete seven new wells across the TEN and Jubilee fields allowing gross oil production from Ghana to rise to approximately 180,000 bopd in line with the 2019 production forecast.

Jubilee

Gross production from Jubilee in 2018 averaged 78,000 bopd (net: 27,700 bopd) slightly below the Group’s November forecast. This was due to minor operational issues in December, which have now been resolved. Tullow’s net production from Jubilee in 2018, including estimated production-equivalent insurance payments of 8,600 bopd, was 36,300 bopd.

Tullow expects 2019 average gross oil production from the Jubilee field to increase to around 96,000 bopd (net: 34,000 bopd). Tullow’s Corporate Business Interruption insurance is expected to provide around 1,000 bopd of net production-equivalent insurance payments, resulting in expected total 2019 Jubilee full-year average net production of 35,000 bopd.

TEN

The TEN fields performed well throughout 2018 with gross production averaging 64,500 bopd (net: 30,400 bopd) in line with expectations.

Tullow expects gross oil production from the TEN fields in 2019 to step up significantly to around 83,000 bopd (net: 39,000 bopd). Gross gas production is expected to be around 2,100 boepd (net: 1,000 boepd).

Ghana Drilling

The 2018 drilling programme was successfully executed with two drilling rigs operating in tandem across both fields. The results from drilling were in line with, or exceeded pre-drill expectations. Two new producer wells were drilled and completed at Jubilee and an existing water injection well was completed.

At TEN, two new producing wells and one water injection well were drilled. The first new producer well, NT05-P, was brought online in August 2018 and is performing very well. The second new producer, EN10-P, is currently being completed and is expected to be online in February

In 2019, Tullow expects to drill and complete seven new wells across the TEN and Jubilee fields allowing gross oil production from Ghana to rise to approximately 180,000 bopd in line with the 2019 production forecast.

NON-OPERATED PORTFOLIO

2018 West Africa non-operated production was 21,500 bopd, well ahead of the Group’s initial 2018 forecast of 19,000 bopd. Gas production from the UK in 2018 was 1,700 bopd with production ceasing as planned in September 2018. 

Net production from the non-operated portfolio is expected to increase in 2019 and average between 22,000 and 24,000 bopd.





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