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Crude oil lifted from Ghana’s Jubilee Field, over the weekend
crossed over the 30-millionth barrel of Jubilee Oil, since the field started
production on November 28, 2010.
The 30 millionth barrel pumped from
the field was reached following the successful lifting of the 31st cargo of
about 990,000 barrels of the light sweet crude oil from the field by Anadarko
& Sabre Oil and Gas Limited , bringing the total crude lifted from the
field to over 30,300,000.
Jubilee operator Tullow Oil’s
lifting of 996,358 barrels on 2nd March, 2012 brought the total lifting to
29,327,955 and with a favourable world crude price hovering above the $120.00
per barrel mark, partners have been lifting around their maximum allowable
cargo of 997,500.
The Anadarko- Sabre Oil Group
parcel of about 997,500 barrels lifted over the weekend sent total crude oil
lifted from Ghana’s Jubilee Field, crossing over the 30-millionth barrel, since
the field started production on November 28, 2010.
The successful lifting of the 31st
cargo of about 997,500 barrels of the light sweet crude oil from the field by
Anadarko & Sabre Oil and Gas Limited, brought the total crude lifted from
the field to over 30,300,000.
Jubilee operator Tullow Oil’s
lifting of 996,358 barrels on 2nd March, 2012 had sent the total lifting to
29,327,955 and with a favourable world crude price hovering above the $120.00
per barrel mark, partners are expected to be lifting their maximum allowable
cargo of 997,500.
Ghana, which is the last to lift in
the schedule of lifting, is billed to round off the current round with the 32nd
cargo of 997,500 barrels of Jubilee oil, which would be its sixth cargo, around
the 2nd of April.
Ghana has so far lifted 4,926,673
barrels and therefore its sixth cargo would bring the country’s total lifting
to date to about 5,924,173 barrels.
Field Operator, Tullow Ghana
Limited, has so far lifted the highest quantity of Jubilee Oil of 10,609,113
barrels, followed by Kosmos Energy with 6,901,950 barrels, with the Anadarko –
Sabre Oil & Gas Holdings group raking in 6,890,219.
Production from the field, which
started at a daily rate of less than 40,000b/d rose steadily to 85,000 b/d
sometime last year, before it declined to below 80,000 b/d rate, registering a
shortfall of a third of the projected plateau for 2011.
Jubilee Operator, Tullow Ghana
Limited in November 2011 reported that “production rates have been below
expectations due to mechanical issues in certain wells related to the design of
the well completions,” adding that such problems were not unusual for a new
field development of this type and remedial work was ongoing.
The Jubilee Field is currently
produced by the floating production, storage and offloading FPSO Kwame Nkrumah
MV 21 vessel, owned by the partners.
The Jubilee partners are already
implementing Phase 1A development of the field, to boost production to the
120,000 barrels per day capacity of FPSO Kwame Nkrumah MV 21.
http://business.peacefmonline.com/news/201203/103447.php
