By: Fred Yaw Sarpong- Daily Express
Progress of work on the Tweneboah-Enyenra-Ntomme (TEN) Field project is about 80% complete.
According to the Ghana National Petroleum Company (GNPC), the project is expected to be 87.5% complete by the end of 2016.
The TEN project is Ghana’s second major oil development. GNPC indicates as part of the development of the TEN Field project, all cabling, structure and turret integration works as well as site installation test with dummy riser/umbilical pull-in have been completed.
This is contained in the published Public Interest and Accountability Committee (PIAC) report on Management of Petroleum Revenues for year 2015.
“Pipeline End Terminations (PLETs), piles and risers in the Ntomme and Enyenra fields as well as the Tweneboah gas processing wells installed,” the report revealed.
The report said works on pile structure together with piping and welding of gas storage facilities are currently ongoing.
It also added that laying of production lines and installation of some piles has been completed. “The Ntomme manifold and riser base; Enyenra riser base and one out of the three Enyenra manifolds installed,” the report stated.
The report mentioned that the TEN project has estimated recoverable reserves of 239 million barrels of oil (239 MMbo) and 360 billions of cubic feet (bcf) of gas.
Daily Express has learnt that TEN Field will deliver it first oil in the third quarter of 2016, while the first gas for exports expected in the third quarter of 2017.
However, production of oil from the TEN Field is expected to ramp up to an estimated peak of 76,000 barrels per day between 2017 and 2020.
This paper has been informed that the GNPC’s share of total development costs of the TEN project is about US$161.8 million comprising development cost of US$138.5 million and Gas Export Tie-in cost of US$23.3 million.
The report indicated that 40% of the proceeds from the first oil lifted from TEN Field expected to be use to repay the development cost component of the project. .
PIAC established under the Petroleum Revenue Management Act 2011 (Act 815) and among other things is to monitor and evaluate compliance with the Act by Government and other relevant institutions in the management and use of petroleum revenues and investment.