Tullow confirms production guidance

Tullow Oil has reiterated its full-year production guidance of 72,000-78,000 barrels of oil equivalent per day after confirming that its flagship project has returned to full output levels.

Production at the Jubilee field, off the coast of Ghana, had been constrained by a gas compression issue, which lowered average production from around 110,000 barrels of oil per day to 65,000.

In an operational update, published yesterday, the Irish-founded exploration firm confirmed that the issue had been rectified and Jubilee output is back at full level, ahead of schedule. Tullow is the field’s operator and has a 35.5% stake in the asset.