Tullow Oil plc has reported a strong operational performance in Ghana, with rising oil output and improved efficiency underscoring its 2025 full-year results and early 2026 outlook.
According to the company, average facility uptime across its Floating Production Storage and Offloading (FPSO) vessels reached 97 percent in 2025, supporting a combined average oil production rate of about 32.5 thousand barrels of oil per day (kbopd).
Production momentum has continued into 2026, with output increasing to 35.4 kbopd in the first quarter.
At the Jubilee Field, gross production averaged 60.9 kbopd in 2025, although operations faced challenges earlier in the year due to higher-than-expected water cut affecting well stability.
The company said it responded by introducing riser-based gas lift technology on the eastern side of the field, which “successfully restored and stabilised production” by mid-year.
Plans are now underway to extend the same intervention to the western side, with implementation expected by 2027.
Improved reservoir management also played a key role, with cumulative voidage replacement rising to 107 percent in the second half of the year following the resolution of seawater lift system issues.
TEN Fields Exceed Expectations
Performance at the TEN Fields also exceeded expectations, with gross oil production averaging 16.0 kbopd in 2025.
The gains were driven by well zonal optimisation and water injection strategies, particularly in the Enyenra field.
Additionally, the replacement of the FPSO flare tip in May led to a significant environmental improvement, reducing routine gas flaring by about 50 percent from July onward.
Tullow Oil expects further production support from new wells scheduled to come onstream in 2026. Six Jubilee wells are planned, including five producers and one water injector, with two already operational.
The company emphasised that ongoing waterflood optimisation and careful well management will be critical in sustaining output and countering natural reservoir decline.
Extended Agreements Boost Reserves
Following the extension of Ghana’s petroleum agreements to 2040, the company projects an increase of more than 10 million barrels of oil equivalent in net 2P reserves.
The agreement also outlines a future adjustment in ownership structure, with Ghana National Petroleum Corporation expected to increase its stake in the fields from 2036.
Net gas production averaged 6.8 thousand barrels of oil equivalent per day in 2025, complementing oil operations and contributing to Ghana’s energy mix.
Overall, Tullow’s results highlight a strategy focused on operational efficiency, technological upgrades, and long-term resource management, positioning its Ghana assets for sustained performance in the years ahead.
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