General News of 2014-08-26

Ghana's second FPSO vessel named after Prof. Mills

The country's second floating production, storage and offloading (FPSO) vessel for the Tweneboa-Enyenra-Ntomme (TEN) oil field, is to be named after late president, John Evans Atta Mills.
Joy Business gathers that government settled on Professor John Evans Atta Mills after scrutinizing some names put forward by the lead operator of the field. It is said to have received enormous approval by President John Mahama and his Cabinet
The Vessel which would be used in collecting, processing, storage and offloading crude oil from the country's second biggest oil field after Jubilee, is expected in the country by first quarter of 2016.
This would pave the way for commercial production to take off from the second quarter of 2016 from the oil field.
Energy and Petroleum Minister, Emanuel Armah-Kofi Buah is currently inspecting work on the yet-to-be-named FPSO Mills, which is being built in Singapore.
Work is said to be gradually taking shape on the vessel as Jurong Shipyard Ltd, the company contracted to build the vessel say they are on schedule to complete in December, 2015 and start commercial production by August 2016.
The vessel has the capacity to produce 80,000 barrels a day from crude oil deposits of almost 1 billion barrels.
The country's first FPSO vessel for the jubilee field was named after Ghana’s first President Dr. Kwame Nkrumah.
Explaining progress of work to Mr. Armah-Kofi Buah in Singapore, Mr Wan Zijian Executive Director of Jurong Shipyard said timely delivery of service is the hallmark of his company which they don’t intend to destroy with the construction of their company’s twenty-fourth FPSO Unit.
Mr. Wan further underscored the importance of the vessel and the TEN Project to Ghana’s economy and growing oil and gas sector.
The Minister of Energy and Petroleum on his part expressed his satisfaction with progress of work on the vessel and pledged government’s continuous support and collaboration with Tullow Oil Ghana to ensure successful and timely completion.
He also commended two Ghanaian companies; Seaweld Engineering Ltd and Orsam Ghana Ltd in Takoradi and Tema respectively, for their critical roles in building the country’s second FPSO which he said is in line with government’s Local Content Policy.
He urged management of Jurong Shipyard to continue to work with government to build capacity of indigenous companies to enable them play active role in the oil and gas sector.
Seaweld and Orsam were contracted to build decks for the foundation of the top structure of the FPSO Unit and Pipe Rack Stools for grasping the vessel to the seabed which according to Jurong Shipyard has been fabricated perfectly with international standards.
Mr Charles Darko, General Manager of Tullow Oil Ghana said the completion of the FPSO will be an important milestone in Ghana’s oil and gas sector because apart from the projected 80,000 barrels of crude oil it will produce, a significant amount of gas will also be produced to fuel plants to curb issues associated with electricity generation.
Mr Darko further advised Ghanaian companies in the oil and gas sector to emulate Seaweld and Orsam to boost their credibility in the international oil and gas sector for more opportunities.
Development of the TEN Project requires the drilling and completion of up to 24 development wells which will be connected through subsea infrastructure to a Floating, Production, Storage and Offloading vessel (FPSO), moored in approximately 1,500 meters of water.
Mr Dileep Nair, Singapore’s High Commissioner to Ghana, commended Buah for the importance he attaches to matters relating to the construction of the second FPSO and stated his eagerness to encourage more Singaporean companies to turn to Ghana because of its stable economic climate.
Partners in the TEN project are: Tullow, Kosmos Energy, Anadarko Petroleum, Petro SA and the state-owned Ghana National Petroleum Corporation’s (GNPC).
The TEN fields are located in the Deepwater Tano license which covers an area of more than 800 square kilometers and lies around 20 kilometers west of Tullow’s Jubilee field.
The TEN project is expected to deliver first oil in 2016, with a plateau production rate of 80,000 barrels of oil per day. Future development of gas resources at TEN is anticipated following the commencement of oil start-up.
Ghana expects at least $20 billion of investment in its booming oil industry over the next five years, mainly from foreign companies.
The money would mainly be spent on developing three offshore blocks — the Deepwater Tano/Cape Three Points block, the Tweneboa/Enyera/Ntomme (TEN) block and the Sankofa block.
Source: Myjoyonline
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