This will formally begin the production of oil in commercial quantities from the Sankofa Gye-Nyame Fields.
The symbolic ceremony was done offshore by President Akufo-Addo turning the production valve of the FPSO and opening a Subsea Well Choke.
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Subsequently, a durbar was held at the Takoradi Shore base in the Western Region.
Chiefs, government officials, and other dignitaries were present at the durbar.
The Ministry of Energy in a statement copied to the media said: “Eni is the operator of the OCTP block with a 44.44 percent stake, while Vitol holds 35.56 percent and Ghana National Petroleum Corporation (GNPC) 20 per cent.”
“The OCTP integrated oil and gas development is made up of the Sankofa Main, Sankofa East and Gye-Nyame fields, which are located about 60 kilometers off Ghana’s Western Region coast.”
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The statement said the fields had cumulatively, recoverable reserves of about 1.07 TCF of gas, 173 million barrels of oil and about 30 million barrels of condensate.
It also added that the fields would produce altogether 45,000 BOPD of oil and 170MMSCFD through 18 wells, using the floating production, storage and offloading unit (FPSO) John Agyekum Kufuor.
It said a 63-kilometer submarine pipeline would transport gas to Sanzule’s Onshore Receiving Facilities (ORF), where it would be received and transmitted for power generation.
The OCTP Project had achieved significant local content development and participation with the fabrication of module stools, risers, jumpers, among others, in Ghana.