July 6 (Bloomberg) -- Tullow Oil Plc, the U.K. explorer that plans to produce its first oil in Ghana this year, may expand drilling off the African country's coast.
Together with Anadarko Petroleum Corp., Kosmos Energy LLC and Ghana National Petroleum Corp., Tullow is investing about $3.35 billion to develop the Jubilee field and pump 60,000 barrels a day in November or December, the London-based company said today in a statement. Output will double in the following three to six months.
"We are now beginning to build up thinking in terms of the size and scope and scale" for further phases at Jubilee, Chief Financial Officer Ian Springett said today by phone. Jubilee's first phase consists of 350 million barrels of reserves, while the whole field holds as much as 1 billion barrels of resources. "That gives you the sense of the scope" of the field, he said.
Tullow would also be interested in examining assets that BP Plc may offer for sale to meet liabilities and costs to clean up the oil spill in the Gulf of Mexico, Springett said.
"We are always looking further afield and we look at all opportunities as they come along," he said. "A lot of people will be interested in BP assets."
"It depends of course for us where it is and if fits in our portfolio, if it makes sense to us."
There have been no delays in Tullow's joint projects with Anadarko, the Texas oil company that owns 25 percent of the damaged well in the Gulf of Mexico.
Anadarko remains "very committed to West Africa as we are" said Springett. "Things are moving fine on the operational level."
--Editors: Stephen Cunningham, Randall Hackley.
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