Monday, September 20, 2021
In its H1 Results, Tullow said that production from the Jubilee Field in Ghana, performed a bit above expectation while the TEN project produced in line with projections.
According to Tullow, gross production from the Jubilee field averaged c.70,600 bopd (net: c.25,100 bopd) in the first half of the year, slightly ahead of expectations due to good facility uptime and well performance. Full year guidance for Jubilee has been slightly adjusted upwards to c.74,300 bopd (net: c.26,400 bopd) following the decision to move the planned maintenance shut-down into the first half of 2022. Shifting the shutdown by approximately six months is expected to maximize the amount of work achievable as gas enhancement works planned for 2023 can be brought forward and an expected easing in COVID-19 restrictions will allow for a more efficient work program to be carried out in the planned shutdown period.
The 2021 drilling program continues and the first well of the program, the J-56 producer, came onstream in July 2021 delivering rates ahead of expectations. The second well, the J-55 water injector, is expected to be online in the next few weeks and will be paired with an existing production well. During August, the rig drilled the top hole of the next Jubilee producer well, J-57-P, which is expected to be completed and brought online in early 2022. As a result of the new wells, average production from Jubilee is expected to increase in the second half of the year before growing further in 2022 as the drilling campaign continues.
The Ten field realized gross production from averaging c.37,000 bopd (net: c.17,400 bopd) in the first half of the year. This is broadly in line with expectations. Full year gross production from TEN is expected to be c.33,200 bopd (net: c.15,700 bopd) reflecting the underlying decline in the field during the year. Drilling of the Ntomme gas injector well (Nt-06) reached total depth this month with completion expected to be finished in October. When tied in later this year, the well is expected to mitigate against further decline and keep production broadly flat into 2022.
The operational improvement plan in Ghana is an important part of our strategy to optimize reservoir performance, address production decline and support long term stable production. The plan is delivering good results across the key areas of facility uptime, gas offtake and water injection. The two FPSOs averaged 98% uptime in the first half of 2021, gas offtake from the Government of Ghana is averaging c.110 mmscfd and improved Jubilee water injection rates continue to be in excess of 200 kbwpd.