President Akufo-Addo has visited the FPSO Kwame Nkrumah to turn on the valve to commemorate the official first oil from the Jubilee South Area.
The Jubilee South-East Area is expected to add 30 thousand barrels of oil per day to the greater Jubilee Field, bringing the total oil production at the Jubilee Field to 100 thousand barrels per day by the end of this year.
The Jubilee South-East Area is a joint venture that has received a 1 billion dollar investment from its partners. After turning on the valve, the President said it is in fulfillment of the government’s commitment to grow the Ghanaian petroleum industry.
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.
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. He said the project has been a huge success, delivered in a record time because of utmost cooperation between the operator, and the Ministry of Energy.
He said the project was started in 2021 and within two years, it is delivering 30 thousand more barrels a day, increasing the capacity in two years. Tullow’s Chief Executive, Wissam Al-Monthiry, said the additional 30 thousand barrels of oil per day, in addition to the greater Jubilee Field’s production, marks a major step forward in its production.
The CEO of the Petroleum Commission, 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.
Source: CITI
