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Tullow Oil hits problems at Jubilee field in Ghana

Oil company identifies issues with the turret on its Jubilee floating production, storage and offtake vessel
Tullow hits problems at Jubilee field in Ghana
Oil output and gas exports continued despite the problems with the turret (right)

Shares in Tullow Oil (LON:TLW) leaked 6% after the African-focused oil explorer uncovered technical problems at its Jubilee field off the coast of Ghana.

Tullow said it had identified issues with the turret of the Jubilee floating production storage and offtake (FPSO) vessel and was putting in place extra operating procedures to monitor the situation and reduce the ship's degree of rotation.

It said the manufacturer of the turret, Sofec, would carry out further checks and Tullow would work with it to determine any further measures necessary.

"Oil production and gas export is continuing as normal," Tullow said in a statement.

Shares in the group fell 12.8p, or 6.7%, to 178.6p in mid-morning London trading.

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