Tullow Oil plc, a leading independent oil and gas exploration, and production company has announced the start of its 2021 multi-year, multi-well drilling campaign in West Africa with the commencement of drilling of the first well at the Jubilee offshore field in Ghana on Monday the 5th of April 2021.
The London, United Kingdom, headquartered multinational company said on Tuesday that as previously announced, the Maersk Venturer drillship, which has been contracted for four years, is expected to drill four wells in total this year, consisting of two Jubilee production wells, one Jubilee water injector well and one TEN gas injector well.
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The West African country’s portfolio has a large resource base with extensive infrastructure already in place. Through a rigorous focus on costs and capital discipline, Tullow Energy believes that these assets have the potential to generate material cash flow over the next decade and deliver significant value for the country and investors.
Part of Tullow’s 10-year Business Plan
The 2021 Ghana offshore drilling campaign is the first part of Tullow’s 10-year Business Plan that was presented at Tullow’s Capital Markets Day in November last year.
Throughout this campaign, Tullow plans to continue to implement its Shared Prosperity strategy through a strong local content program with suppliers in Ghana, the professional and technical development of Ghanaian nationals, and continued investment in STEM education, enterprise development, and shared infrastructure.
“Today is an important milestone in the implementation of our long-term Business Plan. Working closely with the Government of the Republic of Ghana and our joint venture partners in this West African country, I am confident that we will unlock the full potential from the Jubilee and TEN fields through this multi-year, multi-well drilling program,” commented Rahul Dhir, the Chief Executive Officer for Tullow Oil plc.
