Tullow in Ghana oil output boost

 
City A.M. Reporter
Crude oil production from Ghana is nearing 80,000 barrels per day and should reach its 120,000-bpd target by August, the operator of the country's sole producing field said on Tuesday.

"Production today stands at about 70,000 barrels per day and I expect it to reach about 75,000-80,000 barrels by next week," Stuart Wheaton, an official at Tullow Oil's Ghana unit, told an oil and gas conference in Accra.

"Our expectation is that with further completions coming we should be getting about 120,000 barrels per day by July, August time," he added.

UK-based Tullow operates Ghana's offshore Jubilee oil field, which began producing in December 2010.

Appiah Kyei, an executive at Tullow Ghana, told the conference that Jubilee had boosted the firm's exploration activities across the West Africa coast.

Kyei said Tullow planned to carry out "high-impact exploration and drilling that could potentially unlock about 5 billion barrels of oil".

"In Ghana itself, our appraisal activities this year alone are going to take us close to 2 billion barrels of oil if our upside predictions come true," he said, adding that exploration would be carried out in Liberia, Sierra Leone and Ivory Coast.