President Nana Addo Dankwa Akufo-Addo on Thursday 6 July symbolically turned the production valve on Floating Production Storage and Offloading (FPSO) vessel John Agyekum Kufuor to officially commence production of oil in commercial quantities from the Sankofa-Gye Nyame fields.
The ceremony was held offshore.
ENI is the operator of the OCTP block with a 44.4 per cent stake while Vitol holds 35.56 per cent and GNPC 20 per cent.
The OCTP integrated gas and oil development is made up of the Sankofa Main, Sankofa East, and Gye-Nyame fields which are located about 60km off the coast of Ghana’s Western Region.
The fields have, cumulatively, recoverable reserves of about 1.07TCF of gas, 173million barrels of oil and about 30million barrels of condensate.
The field will produce altogether 45,000BOPD and 170MMSCFD through 18 wells using FPSO John Agyekum Kufuor. A 63km submarine pipeline will transport gas to Sanzule onshore receiving facilities (ORF) where it would be received and transmitted for power generation.
The OCTP project has achieved significant local content development and participation with the fabrication of module stools, risers, jumpers among others in Ghana