Press

First Sankofa Gas Deliveries to Ghana’s Power Producers

Posted by OilVoice Press - OilVoice

20-Aug-2018


Offshore Cape Three Points (OCTP) has started delivery of gas from the Sankofa field to GNPC, marking the beginning of stable supplies of cost effective and environmentally friendly, domestic fuel for Ghana's power sector. 

In addition, Ghana will benefit significantly from GNPC's carried and participating interest in the project, Ghana's royalty share of oil and gas production and taxes paid by Vitol and Eni. The estimated net cost of gas to Ghana will be less than $4.5/MMBtu, greatly reducing Ghana's fuel costs compared to liquid fuels or imported gas.

The project will provide approximately 180 MMscf/d for at least 15 years, sufficient to supply half of Ghana's power generation requirements. It is the only deep offshore non-associated gas development in Sub-Saharan Africa entirely destined for domestic consumption and will guarantee stable, reliable, affordable gas supplies to Ghana with estimated energy cost savings of up to 40% per year for the State.

Gas is flowing from two of the four deep water subsea wells and gas volumes will increase gradually as the country's downstream gas infrastructure undergoes further commissioning.

OCTP Integrated Oil and Gas Project is made up of Eni 44.44% Operator, Vitol 35.56%, GNPC 20%. First oil was achieved in May 2017, three months ahead of schedule. With the completion of the OCTP gas facilities, OCTP overall oil and gas production can reach up to 85,000 barrels of oil equivalent per day once the gas and condensate production has been fully ramped up.

The project benefits from the support of IFC and MIGA, part of the World Bank Group and UK Export Finance.  It is estimated that the project will generate $7.9 billion of investment in Ghana over its full life, with 320 contracts already awarded to Ghanaian companies valued at $1.8billion.

gasOCTPGhanaAfricaPowerGNPCOffshoreSankofaSankofa Field

More items from oilvoice


Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 1 month agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 1 month agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 2 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11

Total Announces the Distribution of its Second 2018 Interim Dividend

The Board of Directors met on December 12, 2018 and declared  the distribution of a second interim dividend for the 2018 fiscal year of €0.64 per share, in accordance with the Board's decision of July 25, 2018, an amount equal to the first 2018 interim dividend and an increase of 3.2% compared to t ...

OilVoice Press - OilVoice


Posted 2 months agoPress > TotalDividend

Methyl Tertiary Butyl Ether Capacity Will Grow at a CAGR of 16.8% in India Over Next Four Years, says GlobalData

India's Methyl Tertiary Butyl Ether (MTBE) plant capacity is forecasted to grow at a compound annual growth rate (CAGR) of 16.8% from 0.211 million tons per annum (mtpa) in 2017 to 0.460 mtpa in 2022, according to GlobalData , a leading data and analytics company. The company's report: ‘ Met ...

OilVoice Press - OilVoice


Posted 2 months agoOpinion > GlobalDataIndiaMTBE
All posts from oilvoice