Delays may cause Tullow Oil to cut production guidance

TULLOW Oil, the Irish Stock Exchange-quoted explorer with the most licenses in Africa, may cut production guidance for this year after delays at projects including Jubilee, its largest field.

The Tullow-led $3.4 billion (€2.37bn) Jubilee oil field off Ghana will reach its output plateau by the end of the year, about four months later than the original target, Kosmos Energy, its partner in the venture, said last week.

Tullow has also faced drilling delays in Kenya, Ghana and French Guiana.