Skip to main content

TEN projects above 82.9% completion

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.  


Popular posts from this blog

PFM Act to guide local government authority borrowing

By: Fred Yaw Sarpong
The bill, Public Financial Management (PFM) Act 921 which has been passed into law by Parliament is to guide public institutions especially the local government authority borrowing. The law was pass on 3rdAugust, 2016
According to the law, local government authority, a public corporation or state-owned enterprise is liable for the debt and other obligations without recourse to Government, unless otherwise explicitly guaranteed by Government in accordance with this Act.
Madam Eva Esselba Mends, the Chief Economic Officer and Group Head of PFM at the Ministry of Finance told the Daily Express that the law involves a lot but it also give instruction to how state institutions can borrow especially with the  local government authority.
She mentioned that there is no specific law in place that gives direction as to what local authority can do when it comes to borrowing by the authority. Other public corporations sometimes borrow with huge amount for their operation but loca…

Vodafone fined a record £4.6 million for IT blunder

A top-up error left pay-as-you-go customers out of pocket and complaints were mishandled
Vodafone has been fined a record £4.6 million by the telecoms watchdog forleaving thousands of customers out of pocket in a disastrous IT blunder.
Ofcom found that the operator mishandled complaints and failed to pay into the accounts of more than 10,000 pay-as-you-go customers when they topped up their credit.
The top-up error, which cost customers £150,000 over 17 months in 2014 and 2015, stemmed from the moving of 28.5 million accounts to a new billing system.Errors in billing data and price plans caused so much protest that it made Vodafone the most complained-about mobile network in Britain.The technical issues were resolved by April 2015 and all accounts are now on the new system, Vodafone said.
Lindsey Fussell, Ofcom’s consumer group director, said:“Vodafone’s failings were serious and unacceptable, and these fines send a clear warning to all telecoms companies.”
The company says that it has ref…

Enterprise Life inaugurates social centre for Kumasi SOS village

By: Fred Yaw Sarpong
Enterprise Life and Sanlam South Africa together with SOS Children’s Villages Ghana have jointly inaugurated a newly constructed social centre at the SOS Children’s Village, Kumasi in the Ashanti region.
The project, valued at GHc485,000.00 forms part of Enterprise Life and Sanlam-South Africa’s corporate social responsibility (CSR) to promote quality education and health for vulnerable children in Ghana.
The newly established social centre provides a suitable multi-purpose facility with a spacious auditorium among others to host different social activities related to child growth and development and will cater for both SOS children and students of the Hermann Gmeiner School.
The centre also offers the beneficiaries the opportunity to freely socialize and participate actively in educational oriented activities such as school concerts, art exhibitions and workshops.
The Executive Director of Enterprise Life, Mrs. Jacqueline Benyi expressed satisfaction that her outf…