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Oil companies say revenue from Jubilee Field is secure

  • SOURCE: | Editor
  • The Ghana National Petroleum Corporation and Tullow Ghana Limited, Operator of the Jubilee Field, on Wednesday assured the public that the measurement systems in place on the FPSO Kwame Nkrumah for crude oil “are accurate”.

    In a statement released by Tullow Ghana Limited, they said at the moment, the quantities of crude oil in the FPSO storage tanks and in the export tanks were measured using calibrated and highly accurate portable electronic gauging tapes in the FPSO storage tanks before and after transfer of crude oil to export tankers.

    The statement said these measurements, together with production volumes measured by metering devices located on each producing well and other parts of the production process, helped to confirm the export quantities.

    “This represents a comprehensive system that enables use of separate yet accurate metering procedures that guarantee accurate measurements, even when any part of the measurement system fails,” it said.

    The statement emphasised that these procedures were “industry standards” for metering facilities and stock tank measurement.

    “We wish to assure the public that the replacement Ultrasonic Meter is due to be installed in July to further enhance the measurement system.”

    The statement said Tullow Ghana Limited and the Customs Division of the Ghana Revenue Board had agreed that two representatives from the Board were always on board for the export operation.

    The Customs Division of Ghana Revenue Board controls the”locks” that have to be removed to “open the export facility valves”.

    They witness the various measurement activities and quality control tests, and finally sign off the Bill of Lading that summarises the Export Operation Quantity and Quality items.

    “Given the comprehensiveness of the measurement systems currently in place, Ghanaians can be assured that Ghana’s revenue from the Jubilee Field is secure.”

    The statement said to ensure accuracy in reporting, two independent surveyors provided third party verification of the crude oil export operation covering quantity and quality and endorse the Bill of Lading.

    It said in addition, Tullow and the Jubilee Partners had engaged the Ghana Standards Board (GSB) on the processes on FPSO Kwame Nkrumah from late 2010.

    GSB officials were recently received for a working visit on the FPSO to assess processes.

    “GSB has provided positive feedback and has understood the challenges associated with bringing the export meters back into service.

    The areas presently being discussed with GSB focus on representation at the meter calibrations and development of an audit regime for the GSB on the FPSO export facilities.

    Tullow (34.7), Anadarko Petroleum (23.49), Sabre Oil and Gas (2.81).

    A civil society group this week raised the red flag said the dipstick being used to measure crude oil exports was making Ghana lose money.

     

    http://www.ghananewsagency.org/s_economics/r_28962/economics/oil-companies-say-revenue-from-jubilee-field-is-secure

     

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