Jubilee Produces 29m Barrels


Delegates at the Energy Forum interacting at the end of the discussions, from right Mrs Gifty Tettey, Manager Bioenergy Director at the Ministry of Energy, Mr Asare, Stephen Antwi, (President of GGEA and Bernhard Glaser, (extreme left) Technical Adviser DSTC Solar Training Center

SINCE ITS first oil production in December 2010, the Jubilee Oilfield has produced a total of 29,398,333 million barrels to date.

As at the end of February, a total of twenty-nine crude lifting from the Jubilee Field had been recorded by all the partners.

Enoch Ayesu Asare of the Petroleum Directorate of the Ministry of Energy gave the hint when he spoke at the Energy Forum, a monthly event organised by the Ghanaian-German Economic Association (GGEA) which brings producers and approving authorities together to dialogue to find opportunities which exist in Ghana’s energy sectors.

He stated that the Ghana group earned a total of US $555,284,434 from the sale of the first five lifting, totaling 4,926,673 barrels of crude oil, but could not state the total gains from the entire oil produced so far. 

According to Mr Asare, oil production from the Jubilee Field had increased steadily from the initial average of 45,000 barrels of oil per day in January 2011, to about 88,000 barrels of oil per day in October 2011, and currently about 70,000 barrels of oil per day.

Speaking on the developments in the Jubilee Field, he mentioned that the partners had developed drilling installations and completed the constructions of 17 wells and subsea installations.

“The field has been successfully developed,” he stated.

Mr Asare said Ghana’s oil and gas potential stretched across the country’s shoreline from the west, identified as the Tano Basin, to the east in Keta, and also covered the Voltarian Basin and constituted 40 percent of the nation’s landmass.

“The Voltarian Basin unfortunately is the least explored,” he said, adding that the Ghana National Petroleum Corporation (GNPC) intended to undertake a geo-scientific study of the entire basin to enhance the understanding of the areas.

However, the GNPC explained that geo-scientific study would involve the acquisition of about 1700 km of a reconnaissance seismic data.

Apart from the initial discoveries from the Jubilee Field, Mr Asare said nine discoveries had been made to date but were awaiting appraisal, whilst additional leads had been identified and were being pursued.

In 2011, he pointed out, a total of eight exploration wells were drilled, out of which six resulted in oil, gas and condensate pool discoveries. 

The Ghana National Petroleum Corporation was said to have received two applications from two separate companies who had expressed interest in operating open blocks.

The companies, Hess Ghana/Rockfield and Saharah Energy Field Limited, have been recently evaluated by GNPC and have been recommended to the Ministry of Energy.

Mr Asare said the companies “are currently under negotiation”, and if given the green light, they would join the thirteen different petroleum operations being undertaken along the country’s shoreline at different stages of exploration and development.

Hess Ghana/Rockfield’s application is applying for rights in the West Keta block while Sahara Energy Fields Limited is applying for rights in the East Cape Three Points Block which would be north of Vanco/Lukoil and east of Vitol/ENI Blocks.

By Emelia Ennin Abbey

View the original article here

Send your news stories to newsghana101@gmail.com Follow News Ghana on Google News


Please enter your comment!
Please enter your name here