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Ghana's second major oil field comes on stream

Xinhua, August 19, 2016 Adjust font size:

Ghana's President John Dramani Mahama turned on the valves of the Floating Production Storage and Offloading (FPSO) vessel on Thursday to kick-start production on the country's second major oil field.

The Tweneboa-Enyenra-Ntomme (TEN) oilfield contains 80 percent oil and 20 percent gas, and will produce 23,000 barrels of oil per day (bpd) for the rest of the year before ramping up to full capacity of 80,000 bpd. It is expected to produce over 300 million barrels of oil equivalent over the 20-year lifetime of the field.

The project takes its name, TEN, from the three adjoining offshore fields -- Tweneboa, Enyenra and Ntomme -- situated in the Deepwater Tano block with its FPSO built in Singapore at the cost of 1.0 billion U.S. dollars.

It was developed between May 2013 and August 2016, and commissioned 60 km offshore Takoradi, 218 km west of the national capital.

"It has been a long but fruitful journey. I believe that current setbacks in the world market are temporary and we'll see a recovery soon that will give a fair price to producers,"the president said.

The project is a joint venture, with government of Ghana holding operating interest of 15 percent, and the other partners holding the rest. Endit