One of the partners for the Tweneboa, Enyenra and Ntomme (TEN) Oil field that is the Ghana National Petroleum Corporation (GNPC) has told Citi Business News the commencement of commercial oil flow from the field will aid the country in its quest to become one of Africa’s thriving economies.
President John Mahama will today [Thursday] turn on the valves of the John Evans Atta Mills FPSO to mark the beginning of commercial oil production of the TEN field.
The field is expected to produce over 23,000 barrels of oil per day (bopd) on average till close of the year.
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.
Speaking to Citi Business News CEO of GNPC Alex Mould said the TEN field will generate gas which will boost the country’s power sector.
‘This is a momentous day for Ghana and as a national oil company; GNPC is pleased to have played its part in bringing our second oil production field into fruition. This is a combination of more than a decade of work which begun with GNPC producing credible data on our oil fields which convinced international investors who would eventually become the TEN partners to invest in the project. The TEN fields will drive economic growth in Ghana through the marketing of our crude oil and boosting gas supply to generate power for industrial and domestic use. The fact that the TEN project has come on-stream, just six years after the jubilee field goes a long way to demonstrate GNPC’s commitment to ensuring that Ghana benefits from its oil and gas resources’.
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.
By: Vivian Kai Lokko/citibusinessnews.com/Ghana