Exploration company Tullow Oil has reduced its full-year oil production forecast due to drilling delays.
It now expects to 67,000 barrels of oil equivalent a day this year, slightly less than its August forecast of 68,000 to 70,000 barrels.
Declines in production from the Orwell and Kelvin fields in Britain were the main reason for the lower production, the company said in a statement.
"A delay in the drilling of the Hewett Rotliegendes well and the need to extend the annual maintenance shutdown on the Horne and Wren fields during the Wissey tie-in," also contributed.
In a note to investors Davy stockbrokers said the forecast was in line with expectations and the crucial Jubilee development offshore Ghana "remains on target for first production in the second half of 2010".
Tullow holds a 97.5 per cent interest in this license and plans a "new round of farm out discussions with a view to drilling in 2010."
Tullow and its partners plan to invest about $3.2 billion to develop the Jubilee field.
It has awarded contracts to Aker Solutions ASA, Norway's biggest maker of oil platforms, and Technip SA, Europe's second-biggest oilfield-services company, to supply equipment for the Ghana project.