Oil now flowing from offshore Ghana
One of the bigger oil projects off the coast of West Africa has started production from a floating facility offshore Ghana, Tullow Oil announced Thursday. “I am delighted that the Continue Reading
TEN To Start Production in Next 3-6 Weeks, Tullow ‘Out of the Woods’
The Tullow Oil plc operated Tweneboa Enyenra Ntomme (TEN) field, located offshore Ghana, is expected to start production in the next few weeks. The Tullow Oil plc operated Tweneboa Enyenra Continue Reading
Ghana: Ten Fields to Deliver First Oil in July
Tullow Oil says its TEN field project is now over 90 percent complete and that, its first oil remains on target for July and August this year. FPSO Professor John Continue Reading
Ghana: 2020 – Ghana to Produce 500k Barrels of Oil Daily
President John Dramani Mahama has projected Ghana’s oil production to hit half a million barrels per day in 2020. Addressing a business forum in Iran during an official visit, President Continue Reading
Despite Oil Glut, Tullow Launches Huge New Deepwater Production Vessel
Amid one of the deepest oil price crashes in history, Britain’s Tullow Oil is sending one of the world’s biggest floating deep-water oil production platforms to West Africa to pump Continue Reading
Ghana: Oil Price Crash – Petrol Could Become Cheaper Than Bottled Water
Petrol will soon cost less than bottled water as the relentless decline in oil prices sends fuel down to 86p a litre, it has been claimed. Brent crude fell to Continue Reading
Ghana: Nigeria Threatens to Cut Gas Supply to Ghana Over Ghc100 Million Debt
The power crisis in the country is set to worsen in the coming days as Nigeria threatens to cut gas supply to the Aboadze Thermal plant. The development has been occasioned by the failure of government to settle its indebtedness to the Nigerian gas authorities. According to sources within the Power sector, Ghana owes the Nigerian authorities over GHC100million. Currently, Ghana receives in excess of 140million standard cubic feet per day of gas from Nigeria. The supply, although not enough, has greatly enhanced power supply in the country over the last few weeks. Speaking on recent developments in the power sector, a former Chief executive officer of the Volta River Authority Dr. Charles Wireku-Brobbey told Accra-based Joy FM that constant power supply in the country is not dependent on the incoming power barges from Turkey. "The problem for us not the arrival or non-arrival of the power barges. As […]
Ghana told to stop oil drilling
Ghana told to stop oil drilling thumbnail Ghana has been told by an international tribunal not to begin any new offshore drilling for oil in disputed waters with the Ivory Coast. The International Tribunal for the Law of the Sea did, however, allow Ghana to continue developing current oilfields. These include the so called-Ten fields, part owned by UK firm Tullow Oil. Ivory Coast had asked that all drilling be suspended, but the tribunal ruled this would risk “considerable financial loss” to Ghana. Instead, it told the West African nation to “take all necessary steps to ensure than no new drilling either by Ghana or under its control takes place in the disputed area” and to “refrain from granting any new permit for oil exploration and exploitation in the disputed area”. ‘Call for restraint’ The area is believed to contain large reserves of oil, which both countries are keen […]
Billions at risk for Ghana, oil firms from ocean boundary ruling
DAKAR/ACCRA (Reuters) – Ghana’s decision to seek arbitration in a dispute with Ivory Coast over an oil-rich basin in the Atlantic could prove costly for the country and a consortium led by Tullow if a court halts development there. The International Tribunal for the Law of the Sea will rule on Saturday on Ivory Coast’s February request for a moratorium on activity in the basin. The decision is part of legal proceedings on a maritime border dispute sought by Ghana’s President John Dramani Mahama in September. Although many expect the dispute to be ultimately settled in Ghana’s favor, analysts say a ruling that prevented the $4.9 billion offshore TEN oil and gas field opening in mid-2016 would be a further blow to the battered Ghanaian economy. "Even if Ghana wins on the boundary eventually, as most people expect, they stand to lose two years of revenues from TEN which […]
Ghana to Double Oil Production by 2017 on Tullow, Eni Deposits
Ghana will double crude production by 2017 as offshore deposits being developed by Tullow Oil Plc and Eni SpA start producing oil, Minister of Energy Emmanuel Armah-Kofi Buah said. Tullow’s TEN development will produce about 80,000 barrels a day by then, the minister said by phone today. Eni’s Sankofa Gye-Nyame deposit will pump 50,000 barrels, he said. Production at Ghana’s Jubilee field will rise to 120,000 barrels from 110,000 today. Ghana and partners Tullow and Anadarko Petroleum Corp. plan to invest $20 billion in the next 10 years to develop offshore oil deposits. The world’s second-largest cocoa producer needs revenue to help narrow its budget deficit, which will probably exceed 10 percent of gross domestic product for a third year, according to Fitch Ratings and Moody’s Investors Service. To contact the reporter on this story: Ekow Dontoh in Accra at [email protected] To contact the editors responsible for this story: […]