Tullow’s Uganda output on course

OIL production levels from Tullow Oil’s Ghana-based Jubilee Field — which started producing late last year — have increased to over 70,000 barrels of oil per day (bopd) and are on course to reach the forecast 120,000 bopd level by July.

The Irish-founded oil and gas exploration and production company also said total capital expenditure for this year is likely to be in the region of $1.5 billion (€1.1bn). The company’s net debt, as of the end of last month, stood at around $2.1bn.

“In Ghana, the Jubilee Field production ramp-up is on track,” the company said.