Tullow Oil’s New Well off Ghana Delivers ‘Better Than Expected’ Net Pay
August 6, 2025
Tullow Oil has restarted the drilling campaign at Jubilee field offshore Ghana, with the first well that came onstream delivering ‘better than expected’ net pay during drilling operations with Noble Corporation’s Noble Venture drillship.
Tullow Oil brought the the J72-P well, the first of two Jubilee production wells in 2025, onstream at the end of July having encountered better than expected net pay during drilling operations, the company reported.
Interpretation of the 4D seismic data acquired in the first quarter continues, with another well planned to be drilled by the end of the year, and further four firm Jubilee wells planned for 2026.
The drilling operation was conducted with Noble Corporation’s Noble Venturer drillship, as part of the contract signed between the companies in 2024.
The contract is for six firm wells, estimated to span 360 days, with total contract value of $171 million.
“In Ghana we have already taken actions to address the recent underperformance at Jubilee, with further optimization potential identified. We have recommenced drilling and have successfully completed and brought onstream the first of two planned 2025 production wells at Jubilee, with better than expected net pay during drilling.
“The high quality 4D seismic data acquired at the start of the year is now being used to generate improved models that will directly inform the well-planning process and will be further supported with the capture of an Ocean Bottom Node (OBN) seismic survey in the fourth quarter this year,” said Richard Miller, Chief Financial Officer and Interim Chief Executive Officer, Tullow Oil.
To remind, Tullow Oil and its partners recently signed a memorandum of understanding (MoU) with the Government of Ghana to extend the West Cape Three Points (WCTP) and Deep Water Tano (DWT) licenses to 2040, which cover the Jubilee and TEN fields off the West African country.
“We achieved a key milestone by signing a MoU in Ghana to extend our production licenses for both Jubilee and TEN to 2040, which is expected to increase reserves and unlock significant value from these fields.
“In the second half of the year we are focused on refinancing our capital structure, production optimization activities and continuing to optimize our cost base, which combined with the progress in the first half of the year will help unlock Tullow’s intrinsic value,” concluded Miller.
