Ghana Joins Community Of Oil Producing Nations

As part of Government’s effort, to ensure that the oil and gas sector contributes towards the transformational agenda being pursued by President, John Dramani Mahama, major oil and gas projects are still being pursued in Ghana despite the downturn of oil price worldwide.

This was made known by the Petroleum Minister, Dr. Emmanuel Armah-Kofi Buah following the arrival of the FPSO (Floating Production Storage Offloading Vessel) Professor John Evans Atta Mills.

FPSO Atta Mills which arrived on the shores of Ghana this week will produce and store oil from Ghana’s Tweneboa-Ntomme-Enyenra (TEN) offshore oil fields.

According to the Petroleum Minister, “the arrival of FPSO Atta Mills moves us to a sustained production of Oil and Gas” he stated.

The Minister also emphasised that the gas sector is the major game changer for Ghana’s economy.

He added that, “Government led by President Mahama is systematically developing additional gas fields and ramping up volumes in existing fields”.

Dr. Buah further stated that, in the next decade, 80 percent of Ghana’s source of power will come from thermal generation with gas as the critical feed stock.

“The President’s vision of ensuring that by 2020 Ghana gets 3000MW of power will be achieved because we estimate that with the various projects lined up, gas volumes from indigenous fields will be enough to generate over 3000MW of power”.
Dr. Buah also noted that significant progress has been made in the implementation of the Local Content Regulation L.I 2204.

“Significant Local Content milestones have been achieved with enhanced participation of Ghanaians in procurement of TEN and ENI Projects” he added.

Participation of indigenous Ghanaian businesses in major infrastructure projects within the oil and gas sector continues to grow.

For instance, in the construction of the FPSO Atta Mills, Ghanaian companies contributed remarkably.

The deck of the vessel which is lined with hundreds of modules and pipe rack support tools were fabricated by Ghanaian companies.

The vessel’s anchor piles which will keep it anchored in place where also fabricated in Ghana. The TEN Project is expected to deliver about 80,000 bopd and 60 mmscf of gas daily.

First Oil is expected in August 2016 while First Gas is expected in the third quarter of 2017.