Business News of Thursday, 24 December 2015
Tullow Ghana, operators of Jubilee field, and Kosmos, operators of Mahogany and Teak, have presented a Plan of Development (PoD) for the Greater Jubilee Full Field to the government ahead of schedule.
Mr Emmanuel Armah-Kofi Buah, Petroleum Minister, received the PoD on behalf of the government, a statement issued by Edward Abambire Bawa, the Head of Communications at the Ministry has said.
The statement said the Greater Jubilee Full Field is an integration of nearby Mahogany and Teak discoveries in the West Cape Three Points Block with the currently known Jubilee Field.
It said this is a collaborative effort between Tullow Ghana and Kosmos and it is also supported by GNPC.
It said the integration would be such that all wells would be produced through the current Jubilee FPSO vessel with the expansion of the existing sub-sea architecture to accommodate the additional wells required for economical exploitation of the discoveries.
The statement said Jubilee had been developed using a combination of water and gas injection for pressure support and sweep.
It said Mahogany would be developed via water injection only and Teak via gas depletion in the Development Case.
It would be recalled that during the Ministry of Petroleum’s 2015 Meet-The-Press Series, Mr Buah said a joint Front End Engineering Design (FEED) was being carried out to determine whether the facilities needed for the integration.
Mr Buah said both contractors had until the end of the year to submit the Greater Jubilee Full Field Development Plan.
“It is in this regard that Mr Buah congratulated both contractors for delivering the PoD on time,” the statement said.
Mr Buah said the Ministry together with the Petroleum Commission and Ghana National Petroleum Corporation (GNPC) will review the entire document and if satisfied, an approval will then be granted.
Mr Lawrence Apaalse, Petroleum Director at the Ministry, said the PoD is an integrated documented scheme designed to optimize the development and production of discovered hydrocarbon resources.
He said a “PoD is needed to provide the legal, regulatory, economic and technical basis to guide both the state and investor in the processes involved with extracting oil and gas”.
The field is expected to deliver about 60 million barrels of oil and 100 billion cubic feet of Gas. The first oil and gas is expected in 2018 and has an expected field life of 20 years.
Other dignitaries present were Mr Benjamin Dagadu, the Deputy Minister for Petroleum; Mr Charles Darku, the Chief Executive Officer of Tullow Ghana; Mr Joe K. Mensah, Vice President and Country Manager of Kosmos Energy; and Professor Thomas Mba Akabzaa, the Chief Director of the Petroleum Ministry.
The rest are Mrs Vivienne Gadzekpo, Legal Director of the Ministry, Mr Lawrence Apaalse, Petroleum Director of the Ministry, and reps from both Petroleum Commission and GNPC.