Remaining oil reserves in the Jubilee and Tweneboa Enyenra Ntomme (TEN) fields currently stands at 2.5 billion barrels.
The fall in total oil reserves of the two fields follow a 400 million barrels of oil production since 2011.
With regards to total remaining oil reserves in the Sankofa fields, data is not readily available. At initial production, the Sankofa field had reserves of about 40 billion cubic meters of natural gas and 500 million barrels of oil.
Fitch Solutions has said the remaining oil reserves signify ample opportunity for Ghana’s upstream oil production.
Ongoing technical issues at the Jubilee and TEN fields, Fitch however says, provide some risk to the country’s oil production potential.
Previous issues have resulted in output at the Jubilee and TEN fields currently being capped at 70% of maximum Floating, Production, Storage and Offload capacity.
Nevertheless, Tullow Oil’s recent focus on improving water injection efficiency and optimising wells is set to enhance output of the Jubilee and TEN fields.
There are currently 49 injection and production wells at Jubilee and TEN fields planned between 2021 and 2030, with each production well projected to have an initial production rate of 10,000 to 15,000 barrels per day.
Despite the company’s ambitions, it is unlikely all wells will reach the desired initial production rate over the planned period given the decline rates at the field.
Touching on oil production from the Pecan field which is expected to come on stream in 2025, Fitch Solutions says the anticipated production of 110,000 barrels per day from the Pecan field holds the key to the country’s oil future.
The Pecan field is an ultra-deepwater play in the DWT/CTP block offshore Ghana and is estimated to contain about 334 million barrels of oil equivalents.
