The Floating, Production, Storage and Offloading (FPSO) vessel that will be used on Ghana's third oil and gas field Sankofa Gye-Nayame project is to be named after former President John Agyekum Kuffour.

Sources say the name was settled on earlier this year between the partners and government.

A formal program to name the vessel after the ex-president should have happened last week but has been moved to next year.

Mr Kuffour will become the third president after Jubilee FPSO was named after Dr Kwame Nkrumah and Tweneboa, Enyenra, Ntomme (TEN) FPSO names after John Evans Atta Mills.

Photo: FPSO Atta Mills

The J. A. Kuffour FPSO is expected to leave for anchorage first week in January 2017 and set sail from Singapore possibly on January 23.

It is expected to arrive in Ghana in March to aid commercial production on Sankofa Gye- Nyame Oil and gas field from July 2017.

It will have the capacity to produce 180 million standard cubic feet of gas daily, sufficient to generate approximately 1,100 megawatts of electricity.

First gas is expected in February 2018, in addition to 30,000 barrels of oil daily, to be produced from August 2017. The almost 8 billion dollar project is jointly owned by ENI, VITOL AND GNPC.

According to analyst the coming on board of this oil field will help improve revenue from the country’s oil field and daily production of crude and gas.