ENI begins production of oil
Production of oil from the country’s third independent oil and gas field, operated by Italian oil giant, Ente Nazionale Idrocarburi (ENI), began from the Offshore Cape Three Points (OCTP) in the Western Region yesterday.
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The lead operator, ENI, launched the production two-and-a half years after commencing the project, and three months ahead of schedule.
Production began after the company successfully installed all the subsea infrastructure and hooked it onto the production platform – FPSO John Agyekum Kufuor, which arrived in the country on April 10, this year and was anchored to the OCTP Field in the Tano Basin.
The field has a reserve of about 770 million barrels of oil equivalent (mboe). Out of that, 500 million barrels are oil and 270 million barrels are non-associated gas.
President Nana Addo Dankwa Akufo-Addo is expected to symbolically turn on the knob for full production in the coming weeks.
The Wells
The activities on the FPSO John Agyekum Kufuor will enable the company to produce up to 85,000 barrels of oil equivalent per day (boepd) from 18 underwater wells.
Aside from that, the OCTP project includes the development of gas fields, which will provide critical answers to limited fuel for power generating units in Tema and Aboadze.
With the commencement of production, the 63-kilometre submarine pipeline that will transport gas to the Sanzule onshore receiving facilities (ORF) would be put in place to transmit approximately 180 million standard cubic feet per day (mmscfd).
Real progress
The Chief Executive Officer (CEO) of ENI, Mr Claudio Descalzi, said the feat was the result of an extraordinary effort and partnership among the oil operators.
He said the feat was also a testimony of the exploration skills and knowledge, as well as the field development vision of ENI and its partners, adding that “it confirms the effectiveness of our new operational model, where ENI has a central role in project management, aimed at improving time-to-market”.
“This is a result we are especially proud of, because it fits perfectly into the joint development vision that we have for Africa. We grow when the countries that host us also grow,” Mr Descalzi said.
The benefits
The takeoff of OCTP project is expected to provide gas for the country’s energy sector for more than 15 years for electricity generation to boost the country’s growth and transformation agenda.
The achievements would allow the country to rake in more revenue from the oil, and value-added associated gas for reliable power and support the industrialisation drive of the country.