The Jubilee field was discovered in June 2007. It is located 60km offshore between the Deepwater Tano and West Cape Three Points blocks in Ghana. The field’s recoverable reserves are estimated to be more than 370 million barrels, with an upside potential of 1.8 billion barrels. It is located at a water depth of 1,100m.
The Jubilee Oil field is located 60 km off the coast of Ghana. The successful development of the Jubilee field is transformational to Ghana, as it is now helping Ghana to reduce the country’s fiscal deficits, address the import-export imbalance and generate sufficient government revenues for much needed investments in infrastructure and the delivery of basic human services that are critically needed to establish a sound base for economic growth.
The development of the Jubilee field is expected to change Ghana’s net-oil-importer status and the eventual production and onshore distribution of associated gas will contribute to the diversification of the country’s energy mix.