Energy stakeholders optimistic as Tullow resumes drilling in Jubilee Field

Stakeholders in Ghana’s energy sector are feeling optimistic. Tullow Ghana and its partners have restarted drilling operations in the Jubilee Field. This two-year drilling campaign began in May. It represents renewed investment and confidence in Ghana’s oil and gas industry.

The initiative aims to increase oil production. It also seeks to enhance operational efficiency in West Africa's significant oil field. Benjamin Nsiah, Executive Director of the Centre for Environmental Management and Sustainable Energy, spoke about the project’s potential benefits.

He said, “We should be hopeful that after drilling these wells, we find commercially viable reserves.” If successful, this could boost output significantly. Higher production levels would increase revenues for Ghana.

Nsiah expressed concern about current oil production levels. He noted a downward trend over the past five years. Currently, Ghana produces about 48 million barrels per year. This is down from over 70 million barrels previously.

He stated, “This shows that the upstream sector is underperforming.” Initiatives like Tullow’s drilling program are crucial for boosting production. They also help attract more foreign direct investment.

Many view this renewed drilling effort as essential. It could reverse declining production trends and revitalize the sector.