Sankofa-Gye Nyame field to produce first gas in 2018

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The project will increase Ghana's electricity supply by 50%, according to the statement.

Significant progress has been made in the first year of the project, the statement said.

The statement further noted: "The Floating, Production, Storage and Offloading (FPSO) vessel, is more than half-way complete and on Tuesday, 26th January, 2016 sailed out for the Keppel Shipyard in Singapore for integration of the oil and gas processing modules. It had undergone conversion and life extension at the HRDD shipyard in China, to meet the 20-year life of the field, without dry-docking (moving to a shipyard) for maintenance. It is expected to be completed and set sail to Ghana in the first quarter, 2017."

"The manufacture of subsea production systems and facilities are well underway. Five deepwater wells have been drilled in the field. Success on projects of this scale and complexity require notonly commitment from GNPC, State institutions and project partners, but also huge logistical mobilisation," the statement added.

Alexander Mould, the Acting CEO of GNPC said: “Sankofa is a game-changer in the development of Ghana’s gas industry. GNPC, the State institutions and the World Bank have been particularly effective in efforts to finalise the commercial and contractual arrangements for the project. We are pleased to have made significant progress in just one year, but there is much more to do. We will continue to collaborate with these institutions, and in addition, provide access to use of project equipment, machinery and vehicles, to ensure successful delivery of the project.”

He continued that, “As the national gas sector aggregator, GNPC will play an enabling role, with the necessary investments. Investments in the construction of gas export pipelines to be integrated with the Ghana Gas pipelines, together with onshore receiving facilities are necessary to ensure efficient supply of fuel to improve Ghana’s energy capacity. This will help provide electricity to households, schools, hospitals and businesses, and fuel Ghana’s economic development.”

The development of a robust gas sector is part of GNPC’s goal of evolving into an integrated energy company to support the developmental drive of Ghana, the statement added.