Tullow Oil said production at the Okume field in Equatorial Guinea is expected to reach 60,000 barrels of oil per day (bopd) by mid-2008.
The offshore site, in which Tullow owns a 14.25 per cent stake, started production on December 14th at an initial rate of 4,000 bopd from a single well.
Okume is a development of over 40 wells. Oil from the field will be exported by a tanker via a production storage and vessel that is shared with the adjacent Ceiba field, in which Tullow holds a 14.25 per cent interest.
Both Okume and Ceiba are expected to make a 'significant' contribution to the company's production over the coming years, Tullow said.
Further, Tullow announced it acquired a package of assets from the Gabonese government through a 50-50 joint venture with AIC-Petrofi.
The package comprises interests in three producing fields and rights to a further nine exploration licences. Two additional fields, presently held under exploration licences, are awaiting development approval and are expected on stream over the next 18 months, it said.