23,000 Oil Barrels Per Day
The President, John Dramani Mahama, yesterday turned on the production valve on the Floating Production Storage and Offloading Vessel (FPSO), John Evans Atta Mills, to officially commence production of oil in commercial quantities at the Tweneboa, Enyenra and Ntomme (TEN) Fields.
The ceremony was held offshore on the FPSO as the President, also opened a Subsea Well Choke, unveiling a plaque to commemorate the ceremonial event.
Speaking on the FPSO Professor John Atta Mills to commence oil production in the TEN field, President Mahama, expressed satisfaction at the level of Ghanaian involvement in the fabrication of parts of the vessel.
Unlike the previous production by the Jubilee partners on the FPSO Kwame Nkrumah, the TEN, engaged about six major companies in various stages from production of parts of the vessel through providing technical and operational assistance for the final onshore commercial production.
Statistics by the Petroleum Commission revealed that, locals secured 1 billion worth of contracts out of the over 5 billion worth of contract issued between 2010 and 2015.
President Mahama, was hopeful Ghana, would sign more and better contracts and strengthen the country’s oil sector.
The field is expected to produce over 23,000 barrels of oil per day (bopd) on average till close of the year 2016.
According to lead managers of the project, Tullow Oil Ghana Limited, the figure is expected to ramp up as more wells are brought on board the production in the coming weeks.
At full capacity, the field is expected to produce 80,000 barrels of oil per day. Under the TEN project agreement, Kosmos Energy, has 17.0 percent interest, whiles PetroSA and Anadarko have 3.8 and 17.0 percent interests respectively. The government of Ghana, commands 15 percent, whiles the lead operator, Tullow Oil Ghana Limited has 47.1 percent.
A press release from Ghana National Petroleum Corporation (GNPC), had described the ‘TEN’ field, as Ghana’s second largest commercial oil and gas project.
This milestone, has been achieved in part, by the consistent efforts of GNPC in first acquiring and processing data on the offshore basin.
The Corporation ,said it used the results of these efforts in a marketing drive to attract investors to Ghana. GNPC also worked with our Partners from the exploration phase, through appraisal and development to bring us to TEN first oil.
Consistent with our mandate and strategy to catalyze local content development, we worked with the operator and partners to ensure the project delivered improved local content opportunities and helped Ghanaians gain experience and develop relevant skills. These all combined to ensure a successful development of the project.
Alexander Mould, Chief Executive Officer for GNPC commented, “This is a momentous day for Ghana and, as the national oil company, GNPC is pleased to have played a significant part in bringing our second oil production field to fruition. This is the culmination of more than a decade of work, which began with GNPC producing credible data on our oil fields. This convinced international investors, who would eventually become the TEN partners, to invest in the project.”
The TEN project is expected to produce over 300 million barrels of oil equivalent (mmboe) over the lifetime of the field, which is approximately 20 years. The field contains 80% oil and 20% gas. The field will produce about 80,000 barrels of oil per day at peak production.
Alexander Mould continued, “The successful start of the TEN Field today is significant not least because it supplements Jubilee production and increases revenue for the State at this moment of low oil price. It will also provide additional gas for electricity generation, to drive economic growth in Ghana. I want to appreciate the collaboration with our TEN partners, as well as the support and guidance of the Petroleum Commission, the Ministry of Petroleum and other State actors, for their significant contribution to delivering this project on time and on budget.”