President Nana Addo Dankwa Akufo-Addo visited the FPSO Kwame Nkrumah on September 8 to turn on the valve and commemorate the official first oil from the Jubilee South East Area.
The Jubilee South-East Area is expected to add 30,000 barrels of oil per day to the greater Jubilee Field, bringing the total oil production at the Jubilee Field to 100,000 barrels per day by the end of this year.
The Jubilee South-East Area is a joint venture that has received a $1 billion investment from its partners.
After turning on the valve, President Akufo-Addo said this is in fulfilment of the government’s commitment to grow the Ghanaian petroleum industry.
“As we commemorate the delivery of the Jubilee South East project and the attainment of the first oil, I commend warmly the dedicated operator of the Jubilee Field, Tullow Ghana Limited. Tullow in collaboration with its partners, had shown exceptional commitment in making this achievement possible. It is truly a moment of joy for us all and a testimony of what collaboration and strategic partnership can do. The success of the South East project aligns with the broader Jubilee Field plan.”
The Jubilee South East project is a joint venture between six oil companies, including Tullow Oil, Kosmos Energy, Kosmos Energy Ghana Investments, Ghana National Petroleum Corporation, PetroSA, and Jubilee Oil Holdings Limited.
Interest in the partnership are:
Tullow Oil: 38.978%
Kosmos Energy: 24.077%
Kosmos Energy Ghana Investments: 14.534%
GNPC: 13.641% Petro SA: 2.725%
Jubilee Oil Holdings Limited: 6.045%
Energy Minister, Mathew Opoku-Prempeh, who accompanied the President to turn on the valve, said the Jubilee South East project took into account local content.
“The project has been a huge success, delivered in a record time because of utmost cooperation between the operator, and the Ministry of Energy. It 2021, we started this project and now within two years, we are delivering 30,000 more barrels a day, and we have increased the capacity in two years,” Mathew Opoku-Prempeh stated.
Tullow’s Managing Director, Wissam Al-Monthiry, said the additional 30,000 barrels of oil per day, in addition to the greater Jubilee Field’s production, marks a major step forward in its production.
Petroleum Commission Chief Executive, Egbert Faibille congratulated the Jubilee partners on the Jubilee South East Project, noting that the involvement of local companies like Orsam Oil and Gas in the fabrication of some subsea installations, such as suction piles and manifolds, demonstrates their commitment to local content.
As the Jubilee partners seek to invest more in the field’s expansion and development, locals are expected to benefit from more jobs and contracts.
The Group Financial Officer for Petro SA, Nombulelo Tyandela on her part told Citi News the success of the JSE project is a motivation to increase Petro SA’s investment in Ghana.
“At Petro SA, we are very proud to be part of the achievement, where we have contributed to reaching the first oil for the Jubilee South East project. Considering that this project is contributing to developing the country, and the Local Content players that played a role in the project, we are really proud. Petro SA is considering opening an office in Ghana so that we can utilize the resources in the country to operate and assist us in running our operations locally, and it is something that we’re already looking forward to.”
The Chief Executive Officer of the Ghana National Petroleum Corporation, GNPC, Opoku Ahweneeh Danquah also told Citi News the Jubilee South East Project is a boost in Ghana’s overall petroleum production capacity.
“It is good news for the Jubilee partnership and a positive trajectory for the country. This project increases our oil production and potentially increases our gas production as well as paves the way for further wells within the Jubilee unitized area.“