PETROLEUM REGISTER

The Jubilee Field was discovered in June 2007 by the Mahogany-1 well. The field straddles two Contract Areas: Deepwater Tano and West Cape Three Points Contract Areas operated by Tullow Ghana and Kosmos Ghana respectively and was thus unitized and approved for development in 2009. First oil was achieved in December 2010, utilizing the FPSO Kwame Nkrumah. The field has oil reserves in excess of 500mmbbls and is operated by Tullow Ghana on behalf of the Jubilee partners. Approval has been given by the Minister of Energy to the Contractor to integrate Jubilee Field reserves with Mahogany and Teak reserves within the West Cape Three Points Contract Area. This integrated development, termed Greater Jubilee Field, will have estimated recoverable oil in excess of 600 mmbbls and 610 Bcf of export gas.