Tullow Oil: Ghana's Tweneboa Field May Hold 1.4B BOE Reserves

1st Jul 2010 09:40

LONDON (Dow Jones)--Ghana's Tweneboa and Jubilee oil fields could contain up to 1.4 billion and 1.5 billion barrels of oil equivalent in oil and gas reserves respectively, said field operator Tullow Oil PLC (TLW.LN) Thursday. This represents a slight decrease in the total resource upside estimate for Jubilee, from 1.8 billion boe previously, but no change in the figure for Tweneboa. First oil will be produced from the Jubilee field in November or December this year and the project will be completed within 10% of its $3.2 billion budget, Tullow said in a presentation to analysts posted on its website. Company website: http://www.tullowoil.com -By James Herron, Dow Jones Newswires; +44 (0)20 7842 9317; [email protected] (END) Dow Jones Newswires July 01, 2010 04:40 ET (08:40 GMT)