Tullow Oil Advances Jubilee Field Development with Multiple Wells Off Ghana
UK-headquartered Tullow Oil is set to bring online a recently completed well at the Jubilee oilfield off the coast of Ghana, with plans to drill five additional wells at the same field this year. The company is using Noble Corporation’s Noble Venturer drillship for the multi-well campaign that kicked off in December 2024.
According to partner Kosmos Energy, the second producer well (J-74) in the 2025/26 Jubilee drilling campaign has been drilled and completed and is expected online shortly. The well encountered approximately 50 meters of net pay and has been completed in three zones, similar to the J-72 well, which began producing in summer 2025. Based on flowback to the rig, production from J-74 is anticipated to exceed 10,000 barrels of oil per day, enabling Jubilee to start 2026 at a rate of nearly 70,000 barrels per day gross with J-74 online.
During the fourth quarter of 2025, gross Jubilee production averaged around 59,000 barrels per day, consistent with expectations of slowing base decline of about 5% quarter over quarter. Beyond the J-72 and J-74 producer wells, the partnership has approved an additional five wells for 2026, including four producer wells and one injector well. The drilling of the next producer is currently underway.
The partnership received government approval in late December 2025 for license extensions for its West Cape Three Points and Deep Water Tano petroleum agreements, which cover the Jubilee and TEN fields. The agreements have been submitted to parliament for formal ratification, enabling extensions to 2040. Beginning from July 2036, Ghana National Petroleum Corporation will see its share in the fields increase by a further 10%, with joint venture partners’ shares decreasing pro rata.
The Jubilee plan of development has been amended to include up to 20 additional wells in the field. The TEN partnership has agreed on final sale and purchase terms to acquire the TEN FPSO at the end of its current lease in 2027. Kosmos expects the sale and purchase agreement to be executed early in 2026, anticipating that TEN operating costs will significantly reduce as ownership transitions to the partnership, positively impacting leverage in 2026.
Source: offshore-energy.biz
