Tullow Hope for Jubilee Field

UK independent Tullow Oil says it expects to produce first oil from the giant Jubilee discovery by 2010.

In a trading statement, Tullow says it plans to drill a programme of more than 25 exploration wells by the end of this year.

Tullow's main focus will be the Jubilee oil field in Ghana, where reserves are now thought to be at least one billion barrels of high grade oil.

The company has also announced that the Taitai-1 exploration well, drilled in the Butiaba region of Uganda, has encountered five metres of net gas pay and at least eight metres of net oil pay.

The Taitai-1 well, drilled to a total depth of 1,006m, is the first of a nine-well exploration campaign in the Butiaba area of the Lake Albert Rift Basin.

On completion of operations at Taitai-1, its rig will move to drill the Lanya-1 prospect at the end of this month, says Tullow.

By staff writer