ANGLO-IRISH INDEPENDENT Tullow Oil has reported that the government of Ghana has formally approved the Jubilee field Phase 1 Development Plan and Unitisation Agreement.
The Jubilee field will be developed via a floating production, storage and offtake vessel, and will deliver a plateau oil rate of 120,000 barrels of oil per day, water injection capacity of 230,000 barrels of water per day and gas export and injection capacity of up to 160 mmcf per day. Work on the FPSO and subsea facilities was initiated in July 2008 and is on track to deliver first oil in the second half of 2010. Phase-one development is expected to produce in excess of the planned 300mn barrels of recoverable oil. The designed production capacity of phase one is 120,000 barrels of crude per day.
The Jubilee development is based on a conventional subsea design located in approximately 1,300m of water using a turret-moored FPSO. The phase-one development plan calls for up to 17 wells,including up to nine oil producers, five water injection wells and three gas injection wells. Water, and possibly gas, injection wells are intended to enhance production and maximise oil recovery by maintaining reservoir pressure. The development process has been designed so that produced gas will be available for export to shore and/or reinjected into the reservoir, thereby eliminating gas flaring.
The Unitisation Agreement has determined the partners’ initial interests in the Jubilee field and provides for modification of these interests as further field data becomes available.
Tullow’s initial equity interest in the Jubilee unit area, which Tullow will operate, is 34.70%. Other partner interests are Kosmos Energy (23.49%), Anadarko Petroleum (23.49%), Sabre Oil & Gas (2.81%), EO Group (1.75%) and the Ghana National Petroleum Corporation (13.75% of which 10% is carried interest).
