President Nana Akufo-Addo officially launched the Jubilee South East (JSE) Project, a joint venture between Tullow, the Ghana National Petroleum Company (GNPC), Kosmos Energy, Jubilee Oil Holdings Limited, and Petro SA, on Friday, September 8, 2023.
President Akufo-Addo emphasized how the Jubilee field plan, which aims to increase oil output from the field’s eastern side, is consistent with the South East Project’s success.
By the end of the year, Ghana wants to sustain production levels at or above 100,000 barrels per day from the Jubilee field, which required a combined expenditure of almost US$1 billion.
With an estimated 300 million barrels of oil in the Jubilee field, the nation’s prospective prospects are considerably boosted.
The expansion of the TEN field, which contains significant gas reserves, is essential for Ghana’s natural gas production and the stability of the country’s power sector in the coming years, the President added, underscoring the government’s determination to entice more investments from partners in the project.