Ghana surging into energy production

ACCRA — New leadership takes the helm at Ghana’s national oil concern as a second major field goes into exploration.

Veteran banking and energy executive Alexander Kofi-Mensah Mould is new CEO of the Ghana National Petroleum Corp.

Mould joined the National Petroleum Authority (NPA) in April 2009 after over 20 years experience in leadership positions in the downstream petroleum industry and the banking and financial sectors with multinational banking corporations in the USA and Ghana, and nearly a decade of experience in the petroleum downstream sector with focus on Refining, Crude Oil and Petroleum Products Supply & Trading and Risk Management.

Ghana is among the new entrants alongside Nigeria and Angola as new drilling techniques open more areas of the Atlantic coast.

The  Government of Ghana has formally approved the Plan of Development  (“PoD”) for the Tweneboa-Enyenra-Ntomme (“TEN”) discoveries. Approval of the PoD paves the way for Kosmos and its co-venturers,Tullow Oil,  Anadarko Petroleum, PetroSA, and the Ghana National Petroleum Corporation to proceed with the development of the discoveries, with associated major contracts expected to be finalized and subsequently awarded.

The TEN project is located in the Deepwater Tano Block, 60 kilometers  (37 miles) offshore Ghana and approximately 30 kilometers (18 miles)  west of the Jubilee Field. The TEN project is expected to deliver first  oil in 2016, with a plateau production rate of 80,000 barrels of oil per day. Future development of gas resources at TEN is anticipated following  the commencement of oil startup.

Development of TEN will include the drilling and completion of up to 24 development wells, with half of the wells designed as producers and the remainder for water and gas injection to support ultimate field      recoveries. The wells will be connected through subsea infrastructure to a Floating, Production, Storage, and Offloading vessel (FPSO), moored in approximately 1,500 meters (4,920 feet) of water.

Darrell McKenna, Chief Operating Officer of Kosmos Energy, commented, “The approval of  the TEN Plan of Development by the Government of Ghana is a positive  milestone towards first production from the country’s second major offshore development.”

Following approval of the TEN PoD, Kosmos holds a 17 percent  participating interest in the Deepwater Tano Block. The  co-venturers include Tullow Oil plc as operator (47.18 percent),  Anadarko Petroleum (17 percent),Sabre Oil & Gas Holdings Ltd., a wholly      owned subsidiary of Petro SA (3.82 percent), and the Ghana National Petroleum Corporation (15 percent).

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