The presentation discusses the Jubilee field project in Ghana, which was delivered in record time. It provides a historical overview of offshore oil exploration licenses and discoveries in Ghana. It then summarizes the phases of the Jubilee field development, including initial production of 80,000 barrels per day increasing to over 100,000 currently. It also briefly discusses economic benefits to Ghana, challenges faced like premature production decline, and remedies implemented.

1. THE MOVENPICK, ACCRA
4 JUNE, 2013
THE JUBILEE FIELD: A WORLD CLASS PROJECT
DELIVERED IN RECORD TIME
BENJAMIN KWAME ASANTE
LEAD GEOPHYSICIST, GNPC
BY

2. Presentation Outline
• Introduction/Background
• Historical Overview
– WCTP, DWT
– Unitization And Unit Operation Agreement
• Jubilee Field Development
– Phase 1
– Phase 1A
– Full Field
• Redetermination
• Hydrocarbon Production
• Economic Benefits
• Challenges/Remedies
• Conclusion

3. Offshore Activity Map
3

4. Activity overview
• Ghana licences signed
– WCTP – Jul ’04 (Kosmos)
– DWT – Mar ’06 (Tullow)
• Jubilee field discovery – Jun ‘07
Jubilee field
• 60kms offshore in avg. 1,200m water
depth.
• Three appraisal wells confirm giant
discovery
• Excellent reservoir and fluid properties
• Gross resource potential 600–1200–
1800mmbo
• Significant associated gas resources
~800bcf
Historical Overview
Source: Tullow

5. Jubilee Unit Area

6. Jubilee Field
Interest Holding Structure Post Unitization
Assumption: OHIP
– 50% in the Deepwater Tano block
– 50% of discovery in West Cape Three Points block
GNPC exercised option - additional paying interest
– Five percent (5%) Deepwater Tano block
– Two and Half percent (2.5%) West Cape Three Points block
– Interest Holding Unitized Area
• Tullow - 34.7046%
• Kosmos - 23.4913%
• Anadarko - 23.4913%
• GNPC - 13.7500%
• Sabre - 2.8127%
• E. O. Group - 1.7500%
6

7. Phase 1 Development
• Drilled 17 wells (9 production wells, 6 water injection
wells and 2 gas injection wells)
• Completed and tested the wells
• Constructed, installed, commissioned and hooked-
up of the FPSO
• Subsea Production Systems, umbilical, Riser and
flowline and other production accessories

8. Jubilee Subsea layout
Jubilee will be developed using a field
proven subsea production and control
system tied back to a turret moored FPSO
Jubilee Subsea layout
Jubilee will be developed using a field
proven subsea production and control
system tied back to a turret moored FPSO
• Water depth: 900m to 1,700m
• Seabed temperatures: 3oC (37oF)
• Seabed conditions: three broad seabed
canyons with evidence of active
currents & slumps
• Remote location and no existing
infrastructure: FPSO required for storage
and offloading
• Large areal extent: Unit Area covers 110
km2
Phase 1 Development Scheme

9. Phase 1A Development
• Eight infill wells to be drilled (5 production wells and 3 water
injection wells)
– Five wells drilled (3 producers and 2 injectors)
– Three wells (2 producers and 1 water injector) completed
and hooked to the FPSO
• Fabrication and installation of subsea infrastructure ongoing
• Other necessary installations
• Production increased from 80 to 115MBOPD

10. Phase 1 & 1A Development
Source: Tullow

11. Full Field Development
• Expected to commence early 2014
• Drilling of 17 additional wells
• Continue appraisal work on MH2 and MH3
• Address FPSO issues: upgrading of water/gas
injection/handling and oil processing capacity
• Possible tie-back of non-Jubilee discoveries

12. Jubilee Field
12
• Producing oil from eleven (11) wells.
• Supported by six (6) water injectors and
two (2) gas injectors.
• Total of 19 wells comprises 17 wells from
Phase 1 and 2 wells from Phase 1A.
• Field holds total oil reserves of 585
MMBO (Mid Case)
• Current daily average production is about
110,000 barrels (from January 1 to 31st
March 2013).
• Sixty-five (65) parcels of crude oil lifted
since Nov 2010
• Ghana Group made twelve (12) liftings as
at April 2013.

13. Jubilee Field
Interest Holding Structure - Post Redetermination
Total OHIP:
– 45.63340% in Deepwater Tano block
– 54.36660% in West Cape Three Points block
– Interest Holding since December 2011 following
Redetermination
• Tullow - 35.47954%
• Kosmos - 24.07710%
• Anadarko - 24.07710%
• GNPC - 13.64084%
• Petro SA - 2.725440%
Note: GNPC has 10% carried interest and 3.64084%
additional paying interest
13

14. Hydrocarbon Production
• Targeted production levels not consistent
• Initial production at 80MBOPD
• Declined to 63MBOPD
• Increased to 97MBOPD
• Presently produces about 115MBOPD

15. Economic Benefits
• Cushion Nation against the negative impact of oil price
uncertainties
• Create employment (skilled and semi-skilled workers)
• Training and transfer of technology.
• Foreign Exchange earnings through export of oil and gas.
• Save revenue for future generation

16. Challenges/Remedies
• Pre-mature production decline within a year into production.
• Gas hydrate blockage at the riser base
• A programme of work to arrest premature decline and enhance
production from the Jubilee wells was executed and has been
successful
• Gas hydrate blockage is being tackled through depressurization
and methanol injection

17. Jubilee Benchmarking
• La Ceiba (700m)
• Baobab (970m)
• Chenguetti
(800m)
• Bonga
(900-1200m)
• Auger TLP (872m)
Source: Tullow

18. Conclusion
18
June 2007: 1st
Jubilee Discovery
well;
August 2007:2nd
Jubilee
Confirmation well
February 2008:
Jubilee Phase 1
Development
Commences
July 2009: Phase1
Development Plan
an Field Unitisation
Approved
December 2009:
ESIA Approved
Third Quarter
2010: FPSO arrives
in Ghana (offshore
Takoradi)
2009-2010:
Construction,
Installation, Drilling
and Completions
Fourth Quarter
2010: First Oil
production