The development of the Tweneboa, Enyenra and Ntomme oil wells by Tullow Ghana Limited and its partners is estimated to cost five billion United States dollars, Mr Gayheart Mensah, the Communication Director of the project, announced on Monday.
He was speaking at an Environmental Protection Agency (EPA) public hearing on the Environmental Impact Statement of the project which is dubbed the “Ten Project” in Takoradi.
Mr Mensah said the cost included drilling and construction works, and the government has 15 per cent share in the project.
He said the project will bring immense benefits to the country including transfer of skills, revenue, creation of jobs and building of capacities of local entrepreneur to take advantage of the oil and gas sector.
He said the project is located 60 kilometres from the Western Region and 20 kilometres from the Jubilee Field and covers an area of 450 square kilometers.
He said the project could produce 80,000 barrels a day for a period of 20 years.
Mr Mensah said FPSO Kwame Nkrumah would process and store oil from the project just as in the case of the Jubilee Field.
He said, “The TEN project will consist of oil and gas production wells, water injection wells and gas injection wells”, adding, “Production will be gathered through subsea manifolds and conveyed by subsea flowlines to a Floating Production Storage and Offloading (FPSO) which will be moored in the area of the TEN fields subsea equipment installation planned throughout 2015 and the target for first production in early 2016”.
Mr Mensah said the project was approved in May 2013 and it is anticipated that drilling would commence by the first quarter of 2014.
He said the project will not impact negatively on fisheries despite the fact that it will have a safety exclusion zone and there is little likelihood of oil spillage
He said Tullow and its partners have the capability to manage major oil spillage should it occur.
Mr Mensah said flare ups will be undertaken mainly for operational reasons without any negative environmental impact.
Companies partnering Tullow for the project are Kosmos Energy, LLC, Anadarko Petroleum Corporation, the Ghana National Petroleum Company (GNPC) and Sabre Oil and Gas, he said.
Nana Yaa Afriyie Ofori-Koree, Social Investment Manager of Tullow, said women, children and the aged are catered for through the livelihood enhancement programme through consultations with stakeholders
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