Tullow Oil has announced the start of a multi-year, multi-well drilling campaign offshore Ghana with the commencement of drilling of its first well at the Jubilee Field yesterday.
The company in a statement said it had contracted a high-specification seventh-generation drillship called the Maersk Venturer to drill four wells in 2021.
"As previously announced, the Maersk Venturer, which has been contracted for four years, is expected to drill four wells in total in 2021, consisting of two Jubilee production wells, one Jubilee water injector well and one TEN gas injector well," Tullow said in a press release.
"The 2021 drilling campaign is the first part of Tullow’s 10-year Business Plan which was presented at Tullow’s Capital Markets Day in November 2020. The Ghana portfolio has a large resource base with extensive infrastructure already in place. Through a rigorous focus on costs and capital discipline, Tullow believes that these assets have the potential to generate material cash flow over the next decade and deliver significant value for Ghana and investors".
The Chief Executive Officer of Tullow, Rahul Dhir assured that Tullow will work closely with the government and its other partners to unlock the full potential of the Jubilee and TEN fields.
“Today is an important milestone in the implementation of our long-term Business Plan. Working closely with the Government of Ghana and our joint venture partners in Ghana, I am confident that we will unlock the full potential from the Jubilee and TEN fields through this multi-year, multi-well drilling programme,” he said.
The release added that throughout the campaign, "Tullow will continue to implement its Shared Prosperity strategy through a strong local content programme with suppliers in Ghana, the professional and technical development of Ghanaian nationals and continued investment in STEM education, enterprise development and shared infrastructure".