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Ghana can’t be rich selling crude oil – Otabil
MyJoyOnline [link]
February 23, 2014


Motivational Speaker, Dr. Mensa Otabil, says Ghana cannot be rich selling crude oil without adding value to it.

The International Central Gospel Church International (ICGC) General Overseer told his congregation in Church on Sunday, in a sermon that, Ghana could gain more by processing her crude oil and gaining benefits from other derivative products from the raw oil.

He said: “…Crude oil has some value, but its greatest value comes out when it is processed and refined”.

“By some accounts there are about some 6000 different products that can be made from crude oil. So when you sell crude oil, potentially you’re selling 6,000 undeveloped products. That’s just some information I throw in there for Ghana,” he said.

Some of the major products derived from refined crude include fuel oils, asphalt, diesel, gasoline, jet fuel, kerosene, liquefied petroleum gas (LPG), lubricating oils, paraffin wax, tars, petrochemicals among a raft of over 6,000 other petroleum by-products.

Pastor Otabil said: “So if you sell a barrel, you’ve just sold 6,000 potential products undeveloped and somebody takes it and develops 6,000 products and sells it back to you”.

“You can’t be rich that way,” he noted.


The West African country of 25 million people consumes about 1,800,000 tonnes of refined petroleum products yearly.

Its only refinery, Tema Oil Refinery (TOR), which has a 45,000 barrels per day output, processes close to 10,000 tonnes of crude daily, but has been dormant due to technical and financial challenges.

The installation also must be retrofitted with an estimated investment of about $1 billion to make TOR able to refine the high grade ‘sweet light’ oil produced in the jubilee oil fields. TOR was initially designed to refine low grade crude. It has an output capacity of about 6,000 metric tonnes per day.

Ghana currently produces about 100,000 barrels of crude a day. Daily oil production hit 115,000 barrels per day in June 2013, significantly higher than the projected average for that year.

Total oil revenue of GH¢1.15 billion also far exceeded the projected target by GH¢362.3 million.

The country began commercial production of oil in 2010. It could soon have a second refinery. New Alpha Refinery-Ghana, a South African-based company with a subsidiary in Ghana has started feasibility studies to establish a tank farm and second refinery in Ghana.

The 200,000 barrels per day refinery will be located in the Western Region, in addition to the establishment of a power-generation plant using gas turbines.
Wise words, but what's this doing in a Sunday sermon?
 

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Ghana’s Oil Outstrips Cocoa
Daily Guide [link]
February 20, 2014


Oil has outstripped cocoa as Ghana’s second-biggest export earner with shipments worth $3 billion, making Ghana the 50th largest oil producer in the world, ahead of countries such as France, Turkey and Spain, statistics compiled by the Central Intelligence Agency’s World Factbook have revealed.

Six years after Kosmos Energy discovered an extensive reservoir of oil in what is now known as the Jubilee Field, Ghana has climbed to the forefront of the oil and gas boom in the region.

The hydrocarbon discovery by other Western African nations such as Senegal and Liberia is set to fundamentally change the economy of the region over the next decade. To achieve this transformation, significant capital will need to be invested in upstream, midstream and downstream operations.

Analysts have noted that a large part of the investment will come from new emerging market sources of capital such as Nigeria and South Africa, Latin America, the Middle East and Asia, especially China. However, the traditional sources of Europe and to a lesser degree the Americas will also play a part.

Alhassan Andani, Chief Executive of Stanbic Bank Ghana, commented: “Ghana’s future as a petroleum producer is now fairly established and the country is entering the second phase of its transition to a balanced petroleum industrial power. The exploitation of the related gas will fuel domestic power requirements and will in the longer term provide feedstock for petrochemical operations such as fertilizer and methanol plants.”

After initial production challenges, oil production from Jubilee field is now in the order of 110,000 and 115,000 barrels a day just short of its maximum capacity.

With new developments coming on-stream, the plan is to double production to 250,000 barrels a day by 2021. Mr Andani noted that the European financial crisis has created a financing vacuum that Standard Bank and other emerging market lenders have been quick to fill, given the increasing demand for investment opportunities.

“Standard Bank was the third-largest arranger of syndicated loans over the past 12 months with eight offerings having concluded loan facilities in Uganda ($115 million syndicated loan), Ghana ($300m syndicated loan); Mozambique (MZN 1.15 billion commercial paper) and Angola ($1.5 billion receivables purchase agreement.”

The specialist knowledge and experience that Standard Bank has gained over 150 years in Africa and the natural resources that drive its growth has positioned it advantageously.
 

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Ghana's Tema oil refinery close to deal with PetroSaudi

ACCRA (Reuters) - Ghana's sole refinery, the Tema Oil Refinery (TOR), is close to signing a joint venture agreement with PetroSaudi International and a deal is expected soon, Ghanaian President John Mahama said on Tuesday.

The 45,000 barrels-per-day plant has been hobbled by repeated shutdowns in the last four years, often due to a lack of funds to procure crude for processing.

"A joint venture agreement between TOR and PetroSaudi is being finalised to revamp the operations of our refinery. This will reduce the huge amount of foreign exchange spent on importing finished products," Mahama said in his state of the union address to parliament without giving details.

Ghana is one of Africa's newest crude exporters after starting production from its offshore Jubilee field in late 2010. But authorities say the country's refinery needs an upgrade to be able to run the domestically produced oil.

Oil production has become a major source of government revenue and foreign exchange and when it came on stream it led to a spike in GDP growth in 2011, making Ghana one of the world's fastest growing economies.

Current output stands at around 100,000 barrels per day and lags national targets
 

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Parliament ratifies petroleum agreement

Parliament on Friday ratified the petroleum agreement between the government of Ghana and five organisations for the exploration of oil in the Expanded Shallow Water Tano Block.

The organisations are the Ghana National Petroleum Corporation (GNPC), CAMAC Energy Ghana Limited, Base Energy Ghana Limited and the GNPC Exploration and Production Company Limited.

As per the agreement, if a commercial discovery of oil was made in the expanded shallow water Tano block, the GNPC, CAMAC Energy Ghana Ltd and Base Energy Ghana Ltd who would be referred to as the contractor would prospect for oil in the block for 25 years.

The prospect area, bounded on the north by the Ghana coastline and on the west by the maritime border with Cote dIvoire, on the south by the Deep Water Tano Block and on the east by the Cape Three Points Block, spans some 1,508 square kilometres.

Under the agreement terms, if no commercial discovery of oil was made after seven years, the contract expires. The Contractors are obligated to spend a minimum of 30 million dollars in the agreement.

Dr Kwabena Donkor, Chairman of the Parliamentary Select Committee on Mines and Energy and MP for Pru, who moved for the adoption of the report of the committee, said the GNPC had commissioned several studies in the area for which there were technical reports.

He said the contractor would be required to reprocess existing two dimension and three dimension seismic data over the applied contract area and drill one exploration well and that they were required to commence operations latest by 60 days after the ratification of the agreement by Parliament. .

Under the agreement the contractor would be required to relinquish 25 per cent of the original contract area at the end of the exploration period and 25 per cent of the remaining contract area after the first extension period.

Ghana is entitled to 12.5 per cent of oil and 7.5 per cent of gas as royalties. The GNPC has an initial carried interest of 10 per cent, with an additional interest of 10 per cent, and government also has an entitlement of 35 per cent income tax.



Source: GNA
 

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Atuabo Gas Project: Jubilee Partners can’t wait any longer

After several missed deadlines on the completion of the Atuabo gas project, the Jubilee Field operators are said to be mulling the construction of a temporary bypass pipeline to feed directly Volta River Authority’s thermal plants at Aboadze, B&FT has learned.

This means instead of going through the processing plant, the gas would, in the meantime, go directly to the VRA’s thermal plants at Aboadze for power generation.

The inability of the Ghana Gas Company to make ready the gas processing plant is seriously impeding work at the Jubilee Field, with operators having to re-inject the gas into reservoirs.

The construction of the gas facility at Atuabo has suffered many setbacks and though the Ghana Gas Company says the facility would be ready by third quarter; insider information indicates that the project will not be completed this year.

A reliable source told the B&FT that operators are confident that the new deadline for the completion of the
Atuabo project would not be met, a reason they are busily considering the bypass option.

According to the source, the construction of the bypass which is expected to be pre-financed by the jubilee partners, would take at least six weeks to be completed.

The bypass, if constructed, will allow gas from the field to be sent directly to the VRA’s thermal plants, which is intended to be a major beneficiary of the uncompleted Atuabo gas facility.

Tullow Oil, operators of the Jubilee Field, currently produce about 110,000 bpd and the reinjection of gas is threatening reservoir pressure to meet the target of 120,000 bpd. With Ghana’s policy of zero flaring, Jubilee operators have been restricted to gas re-injection.

However, it is becoming increasingly expensive for the drilling of reinjection wells and the field operators have limited options to deal with the unused gas, with the temporary bypass remaining one of the most feasible options in the short-term.

Although it is not immediately known how much the project will cost, energy policy analyst, Peter John Amewu, believes that the bypass option will have a severe cost implication for the government which is already struggling to raise funds to complete the Atuabo facility.

Rather than invest in a temporary facility that will ultimately build up cost for government, Mr. Amewu said it will be prudent for Tullow Oil and co to give the money to the Ghana Gas Company to help it complete the gas plant on time.

The US$850 million Atuabo Gas project is being constructed by China’s Sinopec with funds from the CDB loan. Around 90 million standard cubic feet of raw gas per day is expected when the processing plant is completed, which could peak to around 120million standards cubic feet per day.

By Richard Annerquaye Abbey | B&FT Online | Ghana
 

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Ghana oil corp says in talks with Shell over East Keta basin

ACCRA (Reuters) - Ghana National Petroleum Corporation (GNPC) is in talks with Royal Dutch Shell over an exploration and production deal in the offshore East Keta basin, GNPC's chief executive said at the Reuters Africa summit.

Alex Mould gave no details of the deal's scope in the basin, which lies in the Gulf of Guinea between the port city of Tema and the Togolese border to the east.

But he said a Shell deal could open the door to other major producers.

"We are in discussions right now with Shell in the East Keta basin. We are also in discussions with Chevron. They are looking at where they want to come in the data room and we should hear from them in a couple of months," Mould told Reuters.

"We still have to make contacts with Exxon-Mobil and we believe that with the advent of Shell, who are in discussions with us right now for a petroleum agreement, will encourage the rest of them to come in," he said.

Ghana began pumping oil in December 2010 at its offshore Jubilee field to the west, where Tullow Oil has the largest stake and production is expected to hit 110,000 barrels per day in 2014. [ID:nL6N0N01ZJ]

Jubilee, the only oil field in Ghana currently producing, lies southwest of the port city of Takoradi and close to the border with Ivory Coast.

GNPC is also in talks with UB Petroleum, A-Z Petroleum and Heritage Oil over the award of licences on new oil blocks, Mould said, though he declined to give details of the block locations or the value of any deals.

"There is absolutely a huge demand in the Ghanaian upstream sector. The last four blocks we gave we had over 25 applications and on the average we have about six applications for every block," Mould said.

SLIM HOLES

GNPC is spending about $20 million to drill six narrow holes to determine a hydrocarbon presence in the onshore Voltaian basin, which would bring years of work to fruition. The next step would be a full-scale seismic survey before the blocks can be divided up.

"We are in the approval stage of the public procurement process which is very elaborate in Ghana and it's taken us currently four months. We believe the project will cost us about $20 million," Mould said.

When Ghana struck oil in 2007 it generated a burst of optimism for the economy and the year after production began GDP growth spiked to 11.8 percent.

Of late, however, a delay in constructing a pipeline to bring gas onshore from the Jubilee field has held production back.

Mould said GNPC had plans to increase its stake in the Tweneboa-Enyenra-Ntomme (TEN) fields, which lie about 20 km (12 miles) west of the Jubilee field following a decision by Tullow Oil to sell part of its almost 50 percent stake.

"GNPC had already informed Tullow that they were interested in the farm-down, so if Tullow gets a partner GNPC will like to be within that group of the farm-down," he said. The corporation currently holds a stake of around 15 percent, officials said.

He added that Tullow had put on hold for several months plans to find a partner.
 

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Ghana national oil firm seeks $1 bln to become independent operator

ACCRA (Reuters) - Ghana National Petroleum Corporation (GNPC) is seeking $1 billion to fund its plan to become an independent operator in seven years and will also seek to build an oil trading desk with its partner Unipec, chief executive Alex Mould said.

"We think $1 billion is a good start and I think we'll get there. This $1 billion is going to be used for many things. We're looking for opportunities and the best is to go into exploration, do more appraisal work," Mould told Reuters.

GNPC is working with the government on funding and looking for "efficient capitalization", Mould said, but he gave no further details as to how the money would be raised.

Production from Ghana's main field Jubilee, operated by Tullow, is expected to hit 110,000 barrels per day in 2014.

Unipec, which already markets some of Ghana's oil, is a wholly-owned subsidiary of China's Sinopec..

"We have an accelerated growth strategy to become an independent operator in seven years and a world class operator in 15 years," Mould said on Wednesday. "GNPC’s goal is that if we develop our capability we must as well start using our own resources in looking elsewhere outside Ghana for potential hydrocarbon resources that we can explore together with the countries involved," he said. Few African oil producers market and trade their own crude because it involves significant technical challenges. The ones that do are well-established producers, said oil expert Valerie Marcel of the Chatham House think tank. Ghana discovered oil offshore in 2007 and began producing in December 2010.

Mould said that Ghana, which also exports cocoa and gold, would have a sustained total crude output of above 200,000 barrels per day by late 2016 after the full development of Jubilee and the coming on stream of adjoining fields currently under exploration.
 

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Nigeria Compensates Ghana For Shortfall In Gas Supply

Ghana has received a compensation of $10 million from Nigeria over the failure of the latter to meet supply of gas agreement between the two countries.

The agreement required Nigeria to supply Ghana with 123 Million Metric British Thermal Units (MMBtu) per day.

However, Nigeria has failed to meet that target, supplying 30 MMBtu/d and less sometimes. The Director of Planning and Business Development of the Volta River Authority (VRA), Kofi Ellis, told TV3’s Sandra Amarquaye on Friday, April 11 that Ghana has been paid some damages by Nigeria over the shortfall as stipulated in the contract.

“The contract already stipulates some liquidated damages for reduction in supply,” Mr. Ellis told our reporter.

“I know that already we have been paid some damages for the reduction in supply.”

A recent visit of the Minister of Energy and Petroleum, Emmanuel Armah-Kofi Buah, to Nigeria culminated in West Africa’s biggest gas-supply nation promising to supply a constant 50 MMBtu/d.


“I guess the Nigerians also share in our problems. They understand. The unfortunate thing is that this is a commodity that both countries need for themselves. So it is a matter of trying to see how best you can help your neighbor.”

He said the contract signed “many years ago” will not be abrogated though one party is facing challenges in meeting the terms.

The recent below-expectation supply of gas from Nigeria has been cited as one of the causes of challenges in the energy sector.



Source: tv3network.com
 

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Lukoil in talks with Hess over Ghana project -sources

Lukoil is in talks with U.S. oil firm Hess Corp to buy a stake in its offshore project in Ghana, two sources close to the talks said, as part of its strategy to look beyond a closed Russian market.

Lukoil, a private company that is struggling to get a foothold in new major domestic fields largely taken by state firms, has the most foreign interests of any Russian energy company.

"Lukoil is interested in the Deepwater Tano/Cape Three Points project operated by Hess," one of the sources said.

The project, located about 44 miles (70 km) offshore Ghana, is 90 percent owned by Hess, and the rest belongs to Ghana National Petroleum Company. Hess started pre-development studies on the block after finishing drilling its seventh well last year.

The other source said Lukoil was considering buying a significant stake but not a majority stake.
Lukoil declined to comment. Hess did not immediately respond to a request for a comment.
Source: Reuters
 

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US$600m oil refinery to commence in 2015

The construction of a US$600million modern oil refinery plant and associated infrastructure to serve the country and West African sub-regional market is expected to commence in the first quarter of 2015.

The refinery, “Takoradi Oil Refinery Company Limited”, which will start operations within two years after project commencement, is estimated to deliver about 6,500 barrels of oil per day for export and the domestic market. This project seeks to enhance energy security for the country’s power sector, which has been facing various challenges over the years.

During a visit to the proposed project site at Takoradi Port by officials of the lead project, sponsors and investor COX OIL, an experienced Texas-based oil and gas-focused company, Mr. Chris Wilmot, CEO of Takoradi Oil Refinery Company Limited, said all the necessary ingredients for a win-win situation are there at Takoradi Port.

Wilmot explained that Takoradi Port was chosen as the site of their new refinery for obvious strategic reasons -- major among them being existing infrastructure at the port and the ongoing expansion programme that Ghana Ports & Harbors Authority (GPHA) has embarked upon to improve the port.

“You have an active operating port with ready and easy access to receive your feedstock and ship your products; the rail line and road networks terminate right at the port; the safety of our operations in a special designated zone is assured; the security of tenor for the land on which the refinery will be built is assured by our long-term lease with GPHA.

“The port is as well-located in a modern and growing city that can support a relatively good quality of life for families and businesses; and you have abundant human capital that will provide experienced labor force.

“We couldn’t have asked for a more suitable location,” said Craig Sanders, CEO of COX OIL.

“Texas is the world capital of the oil and gas and energy sector, and we want to replicate the efficiencies and best corporate practices of Texas right here in Ghana for the benefit of the Ghanaian economy and the citizenry.”

Director General of GPHA Mr. Richard Anamoo said the refinery will be built on approximately 100 acres of reclaimed land at the harbor, in an area designated specifically as a maritime industrial enclave.

He explained that the ongoing Takoradi Port Expansion Project by GPHA will reclaim more than 1,200 hectares of land and deepen the harbour basin to enable bigger ships call at the port.

Other infrastructure and access roads to and from the port will also be improved to ease traffic congestion, he said.

The sea-ports of Takoradi and Tema in the country are seen as growth-poles, drivers of economic activities and national development.

Construction works to extend the existing 1.087km of breakwater at Takoradi Port, a crucial part of an ongoing expansion project, has been completed.

On completion, the project will pave the way for commencement of work on dredging the access channel to a water-depth of about 16 metres as well as well as the construction of a bulk terminal to serve the manganese, bauxite, cement, clinker and gypsum ships that call at the port.

B&FT Online | Ghana
 

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Quantum, Golar sign deal for Ghana LNG terminal

ACCRA (Reuters) - The Ghanaian subsidiary of Quantum Pacific, the industrial investment group owned by Israeli billionaire Idan Ofer, has signed a deal with Golar LNG to build a $500-million liquefied natural gas import terminal.

The facility, to be situated offshore from the eastern port city of Tema, will provide gas directly to the state-run Volta River Authority (VRA) by mid-2016 to boost power generation, Don Ackah, chief executive of Quantum Power Ghana Gas told Reuters late on Saturday.

Ackah said President John Mahama, who has instructed his economic team to provide cheaper alternatives to light oil for power generation, endorsed the Tema LNG project.

The VRA says it spends around $20 million every fortnight on crude oil purchases, draining the coffers of a country already struggling to cope with a mounting budget deficit.

"A lot of work has already been done with payments committed to parts of the Tema LNG project. We are now aiming to complete all government approvals and secure gas supply and sales agreements for a final investment decision in the last quarter of this year," Ackah said.

Under the deal, Bermuda-headquartered Golar LNG will provide an offshore floating storage and regasification unit. Talks are also underway with French oil services firm Technip to construct subsea and onshore pipeline networks to deliver gas to Tema, he said.

The floating unit, currently being constructed by Samsung Heavy Industries in South Korea, will have the capacity to deliver at least 250 million cubic feet of LNG per day, or 1.75 million tonnes annually, Ackah said.

He said Quantum Power Ghana was in talks with global oil firms, including BP, for the supply of natural gas.

In addition, the Ghanaian government said it planned a state-to-state supply arrangement with Qatar for LNG to be delivered to the terminal.

"The government is only playing a facilitating role to get gas at a cheaper cost for consumers," Ackah added.

Ackah said the offshore production unit is expected to arrive in Ghana under a lease agreement by January 2016, adding that all subseas construction should be completed by December next year
 

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Atuabo gas tests successful

The Atuabo Gas Processing Plant has finally been completed after the successful hydro-testing of the pipelines from offshore to the facility last Monday.

The facility,which cost $812 million has the capacity to generate about 140 million standard cubic feet of natural gas a day is estimated to save the country more than $500 million annually when it is substituted for light crude oil in the generation of power.

In addition, it will produce more than 70 per cent of the estimated 240,000 tonnes of liquefied petroleum gas (LPG) required annually for domestic use in the country.

The successful hydro-testing confirmed the integrity of the pipelines and it was left to the Jubilee partners to hook the pipes onto the FPSO Kwame Nkrumah’s production platform for gas processing to commence.

This was made known by Dr George Adjah-Sipa Yankey, the Chief Executive Officer of the Ghana National Gas Company (Ghana Gas), owners and operators of the facility, when select chiefs and officials from the Western Regional House of Chiefs toured the plant last Tuesday.

Dr Yankey said Ghana Gas was undergoing a pre-commissioning exercise to accept gas for processing and onward transmission to the Volta River Authority’s (VRA’s) Thermal Plant at Aboadze for power generation.

Lines to Aboadze

He said although the pipes travelled over 111 kilometres through many communities and districts to the Aboadze Plant, safety measures had been taken to ensure that those communities were well protected.

Dr Yankey said Ghana Gas had also included members of the various communities where the pipelines passed to help protect the lines, while community relations officers would always be available to ensure the safety of the lines.

Proven gas reserve

Ghana is said to have a proven gas reserve of more than five trillion standard cubic feet (TCF) yet to be tapped.

The Jubilee project, which is currently producing oil offshore Ghana, has associated gas of more than 1.2 trillion TCF, which is ready for Ghana Gas to start processing.

Under the Jubilee project, Ghana is expected to have 200 billion TCF of free gas for processing but subsequent ones will be of economic value to the partners, which would be priced accordingly.

It is expected that other activities offshore will increase the country’s reserve.

Ghana Gas was founded in July 2011 to contribute to Ghana’s rapid industrialisation process by building the infrastructure required for the gathering, processing and delivery of natural gas resources to industry in a safe, cost-effective, responsible and reliable manner.


Credit: Daily Graphic
 

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Petroleum Commission reviews $6bn plan for oil fields

The Petroleum Commission is currently reviewing the off-shore Cape three-point plan of development, for oil firm ENI to start the development of the Sankofa Gye Nyame oil fields.

This comes after President Mahama said the government would, by the end of August, sign a new deal with ENI concerning the Sankofa field, to explore more than a trillion cubic feet of gas, in addition to 50,000 barrels of oil daily.

Speaking to Citi Business News, the director of special services at the Commission, Kweku Boateng, confirmed that they were currently reviewing the OCTP plan of development of the off-shore Cape three points plan.

“The operator ENI of Italy has submitted a plan to develop this field; initially the commission reviewed the development concept which is an integrated oil and gas project with the first oil expected in 2016/2017 and first gas a year later,” Mr. Boateng said.

He also confirmed that the oil field would be developed by the ENI as the operator, with the GNPC and v-tour as partners.

According to Mr. Boateng, “the total development cost for the Sankofa Gye Nyame oil fields is estimated to be 6 billion dollars, with the initial development cost, that’s if you take the integrated project well over 5.8 billion dollars.”

Kweku Boateng added that a set of recommendations will be presented to the energy ministry for consideration before the signing of the contract, which “the minister will approve or reject.”

Meanwhile, the Petroleum Commission, Ghana National Petroleum Corporation (GNPC) and energy ministry, are negotiating the gas commercial contract for the Sankofa Gye Nyame oil fields.

Mr. Boateng, revealed that, as part of the plan of development the Petroleum Commission was part of the team, “together with the GNPC and ministry of energy, negotiating gas commercial contract for the field.
 

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Ghana Expects Hess Offshore Oil Field to Join Project Lineup

Ghana, the nation seeking to increase its oil output fivefold in the next decade, expects an offshore development by Hess Corp. (HES) to join the nation’s project pipeline, according to the Petroleum Commission.

Hess will drill a third appraisal well later this year on the Deepwater Tano/Cape Three Points block to establish commercial viability and reserves, Kwaku Boateng, director of special services at the commission, said in an interview. The results on the first two wells were “fantastic,” he said.

Ghana is aiming to increase oil output to 500,000 barrels a day in the next 10 years as projects including Tullow Oil Plc’s TEN and Eni SpA’s Sankofa-Gye Nyame start production. Tullow operates the Jubilee field that will produce an average of about 100,000 barrels a day this year, according to a July 30 statement.

“We have to wait for the final report but from the numbers that we are seeing we are expecting that Ghana gets its fourth development from Hess,” Boateng said Aug. 18 in Accra.

Hess will give results on Ghana by year-end following completion of the appraisal program, Patrick Scanlan, a Hess spokesman at Sard Verbinnen & Co. in New York, said yesterday, declining to comment further.

The TEN, or Tweneboa-Enyenra-Ntomme, and Sankofa-Gye Nyame fields are expected to be developed within the next three years, with combined daily output of about 300,000 barrels, Boateng said. Both fields will also produce natural gas.
 

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Two oil and gas enclave roads start

Work has
started on two road projects in the Atuabo
area of the Western Region ahead of the
start of operations at the Gas Processing
Plant.
As part of a working visit to the Atuabo
Gas Plant site, President John Mahama
performed a short ceremony to indicate
the start of work on a 10km asphaltic
concrete road “linking the site of the gas
plant to Alabokazo”.
The $22 million road project will be
augmented with another 34km double-
surfacing road from Alabokazo to Tikobo
No.1 at a cost of GH¢24.3 million.
The two projects are part of the oil and
gas enclave roads and are intended to
open up the communities and towns
around the gas plant. It will also facilitate
the evacuation of the expected 500
tonnes LPG from the gas plant per day.
This represents about 75% of the current
national demand.
 

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Left to me.. This projects should have started along with the gas project. So that there will be no further delay. Considering the emergency of the project. And also to set up rail transport in that area to help in the sector. I wonder if this people in charge are thinking
 

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Lukoil finds oil and gas at offshore Ghana block

ACCRA, Sept 3 (Reuters) - Lukoil-Overseas said it found oil and gas at its Cape Three Points Deep Water block off the coast of Ghana, and according to the energy minister, it now has a 90-day test period to determine whether the find is commercially viable.

The company started drilling in May and found several layers with what it described as "high showings" of hydrocarbons.

It will disclose results once tests are complete, said a spokesperson for Lukoil-Overseas, the foreign unit of Russia's second-largest oil producer by output, on Wednesday.

"Lukoil has come to report a discovery, and under the petroleum agreement they have 90 days to do an appraisal to determine whether it is commercial," Energy Minister Emmanuel Armah-Kofi Buah said.

The block is located 50 to 100 km offshore in the Gulf of Guinea and its nearest port is Takoradi, according to the company's website.

Credit:Reuters
 

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UN Approves Extension Of Ghana’s Continental Shelf

16
OCT 2014

The United Nations has approved the extension of Ghana’s Continental Shelf beyond 200 nautical miles. This can be found in two outer continental shelf polygons offshore of the country. It covers the Eastern Outer continental Shelf and the Western Outer Continental Shelf.
This feat followed the unanimous adoption of a recommendation on Ghana’s request for the extension of her continental shelf at the 35th session of the UN Commission on the Limits of the Continental Shelf (CLCS) in New York.

Ghana has therefore become the first country in the West African sub region to receive an extension of her continental shelf.
A UN source told newsmen that Ghana can now begin the process of depositing charts and geographical coordinates of points, forming the outer continental shelf limit lines to the United Nations Secretary-General in New York and the Secretary-General of the International Seabed Authority, with its headquarters in Kingston, Jamaica.

The source congratulated the team that worked on Ghana’s submission to the CLCS for the feat achieved.

It is recalled that Ghana concluded her final inputs on March 10, this year to the United Nations' Commission on the Limits of the Continental Shelf regarding a request for the extension of the continental shelf of Ghana beyond 200 nautical miles.

It followed consensus reached between Ghana, the sub-commission and the commission on a number of issues on the Foot of the Slope (FOS) and outer limits points.

Source: ISD (R.Harry Reynolds, NY)
 
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