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.  

Comments

Popular posts from this blog

Akuapem-Apirede to promote tourism

By: Fred Yaw Sarpong sarpong007@gmaail.com
The Chiefs and people of Akuapem-Apirede in the Okere Constituency of the Akuapem North Municipality have put in place strategic plans to promote tourist sites in the town.
Apiredehene, Nana Saforo Okoampah III told the Daily Express that their vision is to develop Apirede in a modern way.
“We want to have a modern society and environment. We are doing this on the basis of promoting tourism here,” he added.
According to the Apiredehene, it’s their plan to promote the historic sites and the geographical location of the community.
Apirede is one of the 17 towns that forms the Akuapem State and historically, it used to house the armours of the Akuapem State. The community is part of the Nifa division of Akuapem.
He stated that one of those things was called ‘Odosu’ (the war god for Okuapemhene). “The Chief Executioner in those days for Akuapem also came from Apirede and items that he used were also kept here,” he stated.
“These are a lot of things …

Ghana to benefit from oil spill fund

By: Fred Yaw Sarpong

Ghana as crude oil importing country will benefit from the International Oil Pollution Corporation Fund if the country witnesses oil spill at its ocean.

“The fund is a global fund and it’s meant for the countries that import crude oil. The fund is voluntary but Ghana through the Tema Oil Refinery (TOR) contributes annually on behalf of Ghana,” Mr. Kojo Agbenor Efunam, the Deputy Director in charge of oil and gas at the Environmental Protection Agency (EPA) told the Daily Express.

He explained that the fund is mostly for crude oil importing countries but not those into production and exportation.

Mr. Efunam further explained that once Ghana is part of the fund, anytime there is an oil spill involving an oil tanker on the seas of Ghana, the country can apply for the fund to solve any problem resulting from the spillage.

“If the incident does not involve a tanker the country does not benefit. But if the incident involves a tanker the country applies for the fund,” he ment…

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…