Exploration company Tullow Oil says it has made excellent operational progress in the second half of the year so far. It added that its financial performance is in line with expectations.
In an interim management statement, Tullow said that first oil production from its Jubilee field in Ghana is expected early next month and will 'transform' the company's production next year.
The company is also looking at the recently discovered Owo and Tweneboa fields, with a 'major' appraisal programme due to begin. Development is expected to begin in 2012.
A major exploration campaign across five countries in both Africa and South America is already under way.
Tullow said it is nearing agreement with the government in Uganda to allow the new partnership with Heritage to undertake an accelerated development of the Lake Albert Rift Basin.
'Overall the outlook for the group is very positive,' the statement concluded.
