Production from Ghana’s Jubilee offshore oilfield will be between 105,000 and 110,000 bpd in 2014, the CEO of Ghana National Petroleum Corporation said on Tuesday.
CEO Alex Mould said, “It is expected that the field could produce an average of 100,000 barrels, which is budgeted for, but I am sure we will hit about 105,000 to 110,000 barrels in 2014. The average oil production as of March 25 was about 104,000 barrels. We’re currently (at) about 109,000 barrels.”
Ghana discovered oil in 2007 and began producing in 2010.
The following year, GDP growth rose to 11.8 percent.
Production has faced trouble in recent months as delays in construction of a pipeline to bring gas onshore raised concerns of whether the country should be flaring its gas.
Tullow Oil holds a 35.5 percent stake in Jubilee, while Ghana’s state-run GNPC holds 13.6 percent.
Other partners include Kosmos Energy, Anadarko Petroleum Corp, and Sabre/PetroSA.