“Tullow has mobilised a team of experts to rectify the fault within the gas compression system and estimates that it will take approximately a further three weeks to reinstate gas export and full oil production,” the Anglo-Irish exploration company said in a statement.
Shares in Tullow on the London Stock Exchange dropped by 1.5 percentage points in morning trading. The company is expected to release its mid-year results on July 29. The current disruption may not impact annual production forecasts as Tullow’s previous estimates took shutdowns and stoppages into account.
Gas from the Jubilee field is tied back to state-owned Ghana National Gas Company’s Sinopec-built gas processing facility in Atuabo. Tullow holds a 49.95-percent stake in the Jubilee field. It is the company’s largest discovery to date, with estimated oil reserves of 600 million-1.8 billion barrels and gas reserves of 22.7 bcm-34 bcm (800 bcf-1.2 tcf).
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