His Excellency the President Nana Akuffo Addo would is expected to symbolically turn on the valve for full production of the ENI Sankofa-Gye Nyame oil field.
For the first time this July, the ENI Sankofa-Gye Nyame oil field would officially be launched for producing oil for the country.
The oil field is estimated to produce 50,000 barrels of oil per day after the start of commercial production, and start producing gas in the second quarter of 2018.
Speaking at of the American Chamber of Commerce Ghana in Accra, Minister of Energy, Mr Boakye Agyarko the ceremony is just to officially commence commercial production although the lead operator of the field, ENI had been producing oil for some time.
“ENI Ghana has completed all the installation of subsea equipment and the Floating Production Storage and Offloading (FPSO). Start-up production had commenced with the oil introduced into the facilities on board the FPSO John Agyekum Kufour,” he said.
Preparation for the first oil ceremony is in an advanced stage and will come off in the first week of July 2017.
The project, which was completed ahead of schedule and under budget, is the second field coming onstream after the oil price slump.
According to Mr. Agyarko stated that oil production from the Tweneboa – Enyera- Ntomme (TEN) Field commenced last August with initial production of about 45,000 barrels per day.
He added that the commissioning of facilities on board the FPSO was still in progress.
“The average oil production has been ramped up to 60,000 barrels per day and 45 million metric standard cubic feet (mmscf) of gas per day are exported to Ghana Gas for processing,” he said.
He stated that the projected oil production target of 80,000 barrels per day would be achieved when commissioning of all the facilities had been completed and optimum reliability of the FPSO was obtained.
It is also expected that after the ruling by the International Tribunal for the Law of the Sea (ITLOS), in addition, Tullow will be able to drill more wells to optimise production.
Gas export from the field to Ghana Gas Plant commenced this month and on the average, 45 mmscf per day of gas are exported for processing. This, he said, would improve gas supply to the Plants.