UK-headquartered Tullow Oil, an independent energy company with operations in West Africa, is set on bringing on stream a recently completed well soon at an oilfield off the coast of Ghana, which was drilled with a drillship owned by Noble Corporation, a U.S.-based offshore drilling giant. The firm is planning to spud five wells at the same field this year.
Following the start of production at the first producer well of the 2025/26 Jubilee drilling campaign in July 2025, Tullow’s partner, Kosmos Energy , explains that the second producer well (J-74) in this field development campaign, which has been drilled and completed, is expected online shortly.
The well encountered approximately 50 meters of net pay and has been completed in three zones, similar to the J-72 well, which began producing in summer 2025. Tullow picked the Noble Venturer drillship for a six-well campaign offshore Ghana in December 2024.
Based on the flowback of the well to the rig, production from J-74 is anticipated to be over 10,000 barrels of oil per day (bopd), enabling Jubilee to start 2026 at a rate of nearly 70,000 bopd gross with J-74 online.
During the fourth quarter of 2025, Kosmos claims that gross Jubilee production averaged around 59,000 bopd, consistent with expectations of slowing base decline of about 5% quarter over quarter.
Aside from the J-72 and J-74 producer wells, the partnership has approved an additional five wells, including four producer wells and one injector well, in 2026. The drilling of the next producer is underway.
The partnership also received the government’s approval in late December 2025 for the license extensions for its West Cape Three Points and Deep Water Tano petroleum agreements, which cover the Jubilee and TEN fields.
Tullow’s partner has confirmed the submission of agreements to parliament for formal ratification, enabling the extension to 2040. Beginning from July 2036, Ghana National Petroleum Corporation (GNPC) will see its share in the fields increase by a further 10%.
As a result, the joint venture partners’ shares will decrease pro rata. The Jubilee plan of development has been amended to include up to 20 additional wells in the field. The TEN partnership has agreed the final sale and purchase terms to acquire the TEN FPSO at the end of its current lease in 2027.
With this in mind, Kosmos expects the sale and purchase agreement to be executed early in 2026. As ownership is transitioned to the partnership, the firm anticipates TEN operating costs to significantly reduce and positively impact its leverage in 2026.