The new Floating Production Storage and Offloading (FPSO) vessel, John Agyekum Kufuor, has safely arrived in the country???s waters. It is currently being moored on top of wells at theTano Basin Offshore Cape Three Points (OCTP).
The arrival of the FPSO brings optimism to the energy sector, as it is expected to help produce an additional one million standard cubic feet of natural gas for the country???s power sector.
The arrival of the FPSO marked the final stage of the development of Ghana???s third independent oilfield in a joint venture operation which has the Italian oil giant, ENI, as the lead operator with a 44.44 per cent interest.
GNPC represents Ghana with 20 per cent, while Vitol, another partner owns 35.56 per cent.The FPSO Kufuor, built in Singapore by Keppel Shipyard Limited (KSL), was named after former President Kufuor, under whose tenure oil was found in commercial quantities in 2007. The FPSO, which is 300m (985ft) long, has a storage capacity of 1.7 million barrels, a double hull to reduce environmental risks and a treatment capacity of 58,000 oil barrels per day.
The multi-million-dollar project, which passes as one of the critical equipment for the energy sector, includes 18 subsea wells, which have already been perforated for both oil and gas. The FPSO contract is for 15 years, with five yearly extension options exercisable by ENI Ghana.
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