Forecasts On Track As Minister Confirms Jubilee 2010 Start-Up

Ghana's oil minister, Joe Oteng-Adjei, has confirmed to Reuters that the Jubilee field will produce first oil in 2010 and reach peak output by mid-2011. Although crude production may start before year-end, we do not expect the first cargo of oil to be shipped until early 2011, and forecast average 2011 crude output of 100,000b/d.

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