Tullow Says Unplanned Shutdown Disrupts Jubilee Gas Exports

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Tullow Oil's Floating Production Storage and Offloading (FPSO) tanker Kwame Nkrumah MV21 sits in the Jubilee off-shore oil field in Ghana, in this undated handout photo released to the media on Thursday, Jan. 15, 2015.

Source: Tullow Oil via Bloomberg

Tullow Oil Plc’s Ghana unit said an unplanned shutdown on a floating production vessel at its offshore Jubilee field has disrupted exports.

Delivery to the Ghana Gas onshore processing plant has been suspended by the halt of FPSO Kwame Nkrumah, the London-based company said Tuesday in a statement. “We are working hard to reinstate gas export as a matter of priority,” it said.

Tullow last week raised its production forecast after a strong performance from West African fields, including Jubilee. The company increased its guidance for 2015 to as much as 70,000 barrels of oil equivalent a day from a previous upper range of 68,000 barrels, it said July 1.

Tullow fell 7.4 percent, the biggest one-day decline in four months, to close at 296.2 pence in London trading.