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Thursday, April 10, 2014
The Jubilee oil field is expected to average between 105,000 and 110,000 this year according to Alex Mould, chief executive of Ghana’s state-run oil firm GNPC. The government had budgeted production at the field at 100,000 bpd, but it appears it will surpass that.
“It is expected that the field could produce an average of 100,000 bpd, which is budgeted for but I am sure we will hit about 105,000 to 110,000 barrels in 2014,” Mould told an investment conference in the Ghanaian capital. “The average oil production as of March 25 was about 104,000 barrels. We’re currently (at) about 109,000 bpd,” he said.
Since coming onstream in 2010 the field has had trouble reaching planned peak levels, in part because of delays in the construction of a pipeline to bring gas onshore, and also some technical difficulties.
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