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TEN Oil Field Mahama hails local participation in the oil sector

Speaking on Thursday to commission the vessel for the production of commercial from the the Tweneboa, Enyenra and Ntomme (TEN) Oil field, president Mahama noted that there has been increased in local participation in Ghana's oil sector since 2007.

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FPSO Prof. Atta Evans Atta Mills play

FPSO Prof. Atta Evans Atta Mills

President John Mahama has hailed the involvement of Ghanaians in the construction of the $1 billion Floating Production, Storage and Offloading (FPSO) vessel, the Prof John Evans Atta Mills.

Speaking on Thursday to commission the vessel for the production of commercial oil from the the Tweneboa, Enyenra and Ntomme (TEN) Oil field, president Mahama noted that there has been increased in local participation in Ghana's oil sector since 2007.

"Local content in these project continue to increase compared to Jubilee which was a very fast tracked development, We didn't have an eye for local content.

"This particular one, it been quite deliberate, quite focused and much of the work on this FPSO was done locally. There are many local faces working both onshore and offshore.

“Am happy to note that in respect of human resource, we have come a long way," he said.

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The TEN oil field, the nation's second largest oil field, will produce 23, 000 barrels of oil daily till the end of the year. However, Production will gradually increase as more wells are brought on board in the coming weeks to 80,000 barrels per day.

The $4.8 billion project is expected to produce oil for at least 25 years, which will mean about 300 million barrels of oil is expected.

"I believe that current setbacks in the world (oil) market are temporary and we'll see a recovery soon that will give a fair price to producers," president Mahama said as he opened the valve. "Its been a long journey but a fruitful one."

The Tweneboa, Enyenra and Ntomme (TEN) project showcase is a joint-venture partnership between Tullow, Kosmos Energy, Anadarko Petroleum, Petro SA and the  GNPC.

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