Ghana’s Sankofa field begins oil production three months early

SankofaGhana is looking forward to the increased production the Sankofa field for the country’s economic growth. (Image source: Bureau of Land Management/Flickr)Eni, Italian multinational oil and gas company, has announced that it will start commercial production at Ghana’s Sankofa field in July 2017, three months earlier than projected, with ain aim to increase domestic gas supply in the west African country

A part of US$7.9bn offshore cape three points (OCTP) project, the Sankofa field is expected to produce 45,000 bpd of oil.

Eni is the largest shareholder of OCTP project carrying 44.44 per cent stake, with upstream trader Vitol holding 35.56 per cent and state-run oil company Ghana National Petroleum Corporation (GNPC) having 20 per cent stake.

The project partners said that the OCTP project also aims to produce up to 180mn scf of gas daily from nearby Gye Nyame reserve by the end of next year.

In a statement to Reuters, the company said, “ENI has launched production from the integrated oil and gas development project in the OCTP block, off Ghana's western coast, in just two and half years, and three months ahead of schedule.”

The government of Ghana hoped that the OCTP project will add value to doubling the domestic gas supply and improving the economic growth in the country.

“We have started production but not officially ... It marks the beginning of Ghana's journey towards petroleum-driven sustained economic growth,” an official from the GNPC commented to Reuters.

The government aims to raise Ghana's oil output to around 200,000 bpd and gas production to more than 300mn scf through the OCPT project.

Presently, Ghana is trying to recover from a power crisis state due to its lack of fund to buy oil for power generation in the absence of domestic gas supply to the power plants. The government has estimated that gas supply from OCTP will boost generation by 1,000MW to ensure a stable power output in the country.

The oil production began in Ghana since 2010 from the offshore Jubilee field. This was followed by production from the Tweneboa, Enyenra, Ntomme (TEN) field in August 2016, in order to boost the production for the financial growth of the country.

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