By J. Ato Kobbie, Managing Editor [The Business Analyst]– Crude oil lifted from Ghana’s Jubilee Field, over the weekend crossed over the 30-millionth barrel of Jubilee Oil, since the field started production on November 28, 2010.
The 30 millionth barrel pumped from the field was reached following the successful lifting of the 31st cargo of about 990,000 barrels of the light sweet crude oil from the field by Anadarko & Sabre Oil and Gas Limited , bringing the total crude lifted from the field to over 30,300,000.
Jubilee operator Tullow Oil’s lifting of 996,358 barrels on 2nd March, 2012 brought the total lifting to 29,327,955 and with a favourable world crude price hovering above the $120.00 per barrel mark, partners have been lifting around their maximum allowable cargo of 997,500.
The Anadarko- Sabre Oil Group parcel of about 997,500 barrels lifted over the weekend sent total crude oil lifted from Ghana’s Jubilee Field, crossing over the 30-millionth barrel, since the field started production on November 28, 2010.
The successful lifting of the 31st cargo of about 997,500 barrels of the light sweet crude oil from the field by Anadarko & Sabre Oil and Gas Limited, brought the total crude lifted from the field to over 30,300,000.
Jubilee operator Tullow Oil’s lifting of 996,358 barrels on 2nd March, 2012 had sent the total lifting to 29,327,955 and with a favourable world crude price hovering above the $120.00 per barrel mark, partners are expected to be lifting their maximum allowable cargo of 997,500.
Ghana, which is the last to lift in the schedule of lifting, is billed to round off the current round with the 32nd cargo of 997,500 barrels of Jubilee oil, which would be its sixth cargo, around the 2nd of April.
Ghana has so far lifted 4,926,673 barrels and therefore its sixth cargo would bring the country’s total lifting to date to about 5,924,173 barrels.
Field Operator, Tullow Ghana Limited, has so far lifted the highest quantity of Jubilee Oil of 10,609,113 barrels, followed by Kosmos Energy with 6,901,950 barrels, with the Anadarko – Sabre Oil & Gas Holdings group raking in 6,890,219.
Production from the field, which started at a daily rate of less than 40,000b/d rose steadily to 85,000 b/d sometime last year, before it declined to below 80,000 b/d rate, registering a shortfall of a third of the projected plateau for 2011.
Jubilee Operator, Tullow Ghana Limited in November 2011 reported that “production rates have been below expectations due to mechanical issues in certain wells related to the design of the well completions,” adding that such problems were not unusual for a new field development of this type and remedial work was ongoing.
The Jubilee Field is currently produced by the floating production, storage and offloading FPSO Kwame Nkrumah MV 21 vessel, owned by the partners.
The Jubilee partners are already implementing Phase 1A development of the field, to boost production to the 120,000 barrels per day capacity of FPSO Kwame Nkrumah MV 21. email@example.com