UK-based Tullow Oil (TLW.L) aims to ramp up its production in Ghana to 180,000 barrels per day by the end of the year, following successful drilling of additional wells, its Ghana head said on Tuesday.
It is currently producing around 170,000 bpd, Kweku Awotwi said.
Tullow is confident of sustaining peak production from its two oilfields in Ghana, using “significant” near-field resources and will leverage additional exploration acreage to grow its Ghana business, Awotwi told an investor briefing in Accra.
Tullow is lead operator of Ghana’s flagship offshore Jubilee field with peak output of 120,000 barrels per day, and the Tweneboa Enyenra Ntomme field which has estimated capacity of up to 80,000 barrels a day.
“We are close to getting to plateau production and we are excited about the potentials,” Awotwi said, adding that five new wells would come onstream over the next six months.
Kosmos Energy (KOS.N) (KOS.L), Anadarko Petroleum Corp (APC.N), Ghana National Petroleum Corp and Petro SA also have stakes in the two fields, which have estimated combined reserves of around 1.5 billion barrels.
Awotwi said Tullow has begun talks with the Ghanaian government over its plans to bid for additional oil assets after the West African nation launched its first oil licensing rounds this month.