Tullow Oil raises target for West Africa oil output

Offshore Rig - kees torn - FlickrThe Jubilee field is steadily producing both oil and gas. (Image source: kees torn/Flickr)Oil and gas producer Tullow Oil has raised its full-year production guidance for West Africa after its Jubilee field offshore Ghana produced more oil than expected

The company produced an average of 66,500 barrels per day (bpd) from West Africa in the first half of 2015, which was within its guidance. Buoyed by the strong performance from the Jubilee field, Tullow has revised upwards its guidance for the second half of the year from 63,000-68,000 bpd to 66,000-70,000 bpd.

“Our major oil-producing assets in West Africa have performed strongly and we have upgraded our 2015 full-year production forecast accordingly,” Tullow's chief executive Aidan Heavey said in the company's trading statement.

The flagship field offshore Ghana, along with others owned by Tullow in Gabon and Cote d’Ivoire, make up more than 90 per cent of the company’s oil output. Tullow also has plans to drill two additional wells in the Jubilee field, one of which is already being drilled.

Gas exports from the Jubilee field have also increased, averaging around 80 mmscfd, since commissioning of the onshore gas processing facility was completed in March this year.

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