Tullow Oil share price falls as technical difficulties suspend Ghana field exports
Share in UK-listed oil producer Tullow Oil fell 1.5 per cent to 277p in morning trading, after it admitted technical difficulties at one of its key fields have meant exports have been suspended and production capped since the beginning of this month.
The company said exports from its Jubilee Field to the state-run Ghana Gas plant in Atuabo, on the south coast of the country, have been haled because of problems with gas systems on its Kwame Nkrumah floating production storage and offloading vessel.
As a result, it said production had been constrained to approximately 65,000 barrels of oil per day and is "under constant review", but there is no effect on the field's reservoir or resources.
Tullow added that it's likely to resume exports from the field and full production in about three weeks' time, by mid-August.