Business News of Saturday, 20 August 2016
The completion of the Tweneboa-Enyenra-Ntomme (TEN) fields, which will see Ghana producing 80,000 barrels of oil daily, will have no positive impact on Ghana’s power crisis (dumsor), Gasop Oil Chief Executive Officer, Kwadwo Poku, has said.
Ghana endured a four-year power crisis, which eased at the beginning of 2016 with the arrival of two powerships from Turkey to generate electricity using crude oil.
Following the commissioning of First Oil from the TEN fields in the Western Region on Thursday August 18 by President John Mahama, there have been some expectations that the oil produced by FPSO Atta Mills from the fields would contribute to power generation.
But speaking on Accra News, Mr Poku said there was no link between oil production from the TEN fields and gas supply, which would have been used to produce electricity.
“The oil being drilled in the TEN project has no bearing on the ‘dumsor’. Had gas infrastructure like the one at Atuabo been in place, which would have supplied gas processed by the FPSO to power distributors, then one could say the gas we have obtained and expect to generate will ease the ‘dumsor’,” he said, adding: “But only oil is being produced; we have no infrastructure to take the gas produced at present from the FPSO Atta Mills to the power companies, so there is no link with dumsor [stopping].”
The TEN project, led by Tullow Ghana, is expected to produce about 300 million barrels of oil equivalent (mmboe) over its lifetime (approximately 20 years).
The partners include Tullow Oil (47.185%), Kosmos Energy (17%), Anadarko Petroleum Corporation (17%), Ghana National Petroleum Corporation (15%) and PetroSA (3.815%).
The TEN Project is Tullow’s second development following the record delivery of the Jubilee field in 2010.
The TEN fields are situated in the Deepwater Tano block, around 60km offshore Western Ghana.