Tullow to achieve first oil from deepwater Jubilee field offshore Ghana within weeks

Tullow Oil revealed today that the company expects to produce first oil from the massive Jubilee field offshore Ghana on December 15, 2010. Developed in just 3.5 years, Tullow claims that Jubilee is the fastest-ever deepwater full-scale development. 
Discovered in June 2007 by the Mahogany-1 and Hyedua-1 exploration wells, the Jubilee oil field was developed via 17 wells connected to the permanently moored Kwame Nkrumah MV21 FPSO, which will inject gas and water, as well as process, store, and offload oil. 
Oil was produced to the FPSO on Nov. 28 to commission the processing equipment before beginning official production status. 
Just the first phase of development, production rates will begin at 55,000 barrels of oil a day and increase to a peak of 120,000 barrels of oil a day within the first six months of production. 
Appraisal drilling continues on the reservoir to better define the potential of the Greater Jubilee Area. 
Containing light sweet crude oil, the Jubilee field is expected to hold up to 1 billion barrels of oil. Located in waters measuring between 1,100 and 1,700 meters deep, the Jubilee is located on both the Deepwater Tano and the West Cape Three Points blocks. 
Tullow is the operator of the Jubilee project with 34.7 percent. Partners in the milestone achievement include Anadarko Petroleum (23.49 percent), Kosmos Energy (23.49 percent), Ghana National Petroleum Corp. (13.75 percent), Sabre Oil and Gas (2.81 percent), and E.O. Group (1.75 percent).
Source: Press release