The third oil and gas field in Ghana that is currently being constructed is on course, the Ghana National Petroleum Corporation (GNPC) has announced.
The oil field,Sankofa-Gye Nyame is expected to produce 180 million standard cubic feet of gas daily which will be capable to generate approximately 1,100 megawatts of electricity. Additionally, 30,000 barrels of oil will be produced from August 2017 and supply of first gas will begin in February 2018.
Apart from GNPC, the project has also been secured by other state institutions including the Ministry of Petroleum, Finance Ministry and the Bank of Ghana through a contribution of US$7.9bn, an investment considered to be the largest-ever foreign direct investment in the country. Other private partners include Vitol, ENI and the World Bank.
According to Alexander Mould, Acting Chief Executive Officer (CEO) of GNPC, access to machinery, vehicles and use of project equipment will be provided to ensure successful delivery of the project.
GNPC will play an enabling role as the national gas sector aggregator with the necessary investments in the construction of gas export pipelines to be integrated with the Ghana Gas pipelines with onshore receiving facilities, this is to ensure efficient supply of fuel to improve the country’s energy capacity and boost electricity access to households, hospitals, schools and businesses as well as fueling Ghana’s economic development.
The GNPC’s aims at evolving gas sector to become an integrated energy company to support the developmental drive of Ghana. The Production, Floating Storage and Offloading (FPSO) vessel is more than half-way complete for the Keppel Shipyard in Singapore for integration of the oil and gas processing modules.
The vessel has undergone conversion and life extension at the HRDD shipyard in China, to meet the 20-year life of the field without dry-docking (moving to a shipyard) for maintenance. It is expected to be completed and set sail to Ghana in the first quarter of 2017.