The Jubilee partners are set to formally name their second floating production, storage and offloading (FPSO) vessel for the Tweneboa-Enyenra-Ntomme (TEN) oil field after late President John Evans Atta Mills.
The formal commissioning will be done in Singapore by the partners.
Joy Business is learning that government settled on Professor John Evans Atta Mills after scrutinizing some names put forward by the lead operator of the field.
The decision to name the vessel after the late President is said to have received enormous approval by President John Mahama and his Cabinet.
The Vessel which would be used in collecting, processing, storage and offloading crude oil from the country’s second biggest oil field after Jubilee is expected in the country by first quarter of 2016.
This would pave the way for commercial production to take off from the second quarter of 2016 from the oil field.
The FPSO was converted from double-hulled very large crude carrier turret moored with 9 mooring lines.
It has a length of 340 meters, 56 width and a depth of 31. 8 meters.
It will have the capacity of producing 80,000 barrels a day with a storage capacity of 1.7 million barrels.
The country’s first FPSO was named after Dr. Kwame Nkrumah.
Partners in the TEN project are Tullow, Kosmos Energy, Anadarko Petroleum, Petro SA and the state-owned Ghana National Petroleum Corporation’s (GNPC).
The TEN fields are located in the Deepwater Tano license which covers an area of more than 800 square kilometers and lies around 20 kilometers west of Tullow’s 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 start-up.
Ghana expects at least $20 billion of investment in its booming oil industry over the next five years, mainly from foreign companies.
The money would mainly be spent on developing three offshore blocks — the Deepwater Tano/Cape Three Points block, the Tweneboa/Enyera/Ntomme (TEN) block and the Sankofa block.