IN SHORT: Tullow sees Ghana oil at target

British oil firm Tullow Oil said on Thursday it hoped production from its Jubilee oil field in Ghana would reach 120,000 barrels per day by "early next year", narrowing the possible timing of a target delayed twice already. The offshore field started pumping in December 2010, vaulting Ghana's economic growth into the double-digits, but plateau output has been put off twice in the second half of 2011 by technical problems.
"It's only a technical problem. The Jubilee resources are intact so we are hoping to reach the 120,000 bpd (target) early next year," Tullow spokesman Gayheart Mensah told Reuters. The outlook narrows down guidance provided by Tullow Chief Financial Officer Ian Springett last month that the 120,000 bpd target would be achieved "sometime during 2012".