The power crisis will continue as gas from the Jubilee Field off-shore Cape Three Points to Gas Processing Atuabo is to be delayed for a further three weeks
Gas from the Jubilee Field off-shore Cape Three Points to Gas Processing Atuabo is to be delayed for a further three weeks, Tullow Oil has said.
Challenges with gas compression systems on the FPSO Kwame Nkrumah have been identified as the main problem.
In the wake of the worsening power crisis, Tullow Oil plc has announced that gas export from the Jubilee Field to the Ghana Gas plant at Atuabo, will most likely resume in three weeks time.
The export of gas which was suspended on July 3, due to technical issues with gas compression systems on the FPSO Kwame Nkrumah, is expected to resume by mid-August.
Tullow in a statement released on Tuesday July 21, said oil production is currently constrained to approximately 65,000 barrels per day, and is under constant review.
The statement however noted that there is no effect on the field’s reservoir or resources.
Tullow says it has mobilized a team of experts to rectify the fault within the gas compression system and estimates that it will take approximately a further 3 weeks to reinstate gas export and full oil production.
Tullow added that it will review its 2015 production forecast for Jubilee and provide an update on progress at its half yearly results on 29th July.
Tullow Ghana Ltd says it regrets the disruption caused by the suspension of gas export and assures the Ghanaian public that it is working hard to rectify the problem on the FPSO safely and speedily.
The technical challenge has largely worsened the country's power crisis since some thermal plants at Aboadze are not functioning due to the lack of gas.
Meanwhile, Finance Minister, Seth Terkper, in a mid-year budget review, acknowledged this and asked for a reduced cap on the Ghana Stabilisation Fund (GSF).
"With the downward revision of the expected oil revenue for 2015, resulting from the drastic decline in world oil prices, we propose to reduce the cap on the GSF to Ȼ150million for the rest of 2015," he said.