GHANA’S OIL TIMELINE HIGHLIGHTS
2017
- FPSO John Agyekum Kufuor arrives in Ghana expected to help produce an additional one million standard cubic feet of natural gas for the country’s power sector from Tano Basin Offshore Cape Three Points (OCTP).
2016
- Arrival of the FPSO Prof. John Evans Atta Mills in Ghana to herald crude oil production on the Tweneboa-Enyenra-Ntomme (TEN) Oil Field on western coast of the country.
- TEN Project over 90% complete; FPSO hook-up and seventh well completion under way
- Production of the TEN Field’s first oil
- Enactment of the Petroleum (Exploration and Production) Act, 2016 (Act 919) to bring it in line with recent industry practices, enhance transparency and accountability and align it with recently passed laws that affect the sector’s fiscal regime.
2015
- Agreements signed to develop Sankofa-Gye Nyame fields, also known as Offshore Cape Three Points (OCTP). OCTP is predicted to hold around 42.5 bcm of gas-in-place and around 500 million barrels of oil-in-place and expected to deliver an additional 30,000 barrels per day of oil and 180 million cubic feet (5.07 million cubic metres) per day of gas to Ghana.
- 10 oil wells drilled at TEN fields
- TEN FPSO officially named FPSO Prof. John Evans Atta Mills. It will receive, process and store track crude oil.
2014
- 100 Millionth barrel of oil produced from the Jubilee field 2015
2013
- Tweneboa, Enyenra, Ntomme (TEN) Plan of Development approved by Government of Ghana. The TEN Project is Ghana’s second major oil development.
- Work begins on TEN FPSO conversion in Singapore
2012
- Jubilee Phase 1A Plan of Development approved by the Government of Ghana
- Confirmation of the Ntomme Oil Discovery offshore Ghana
- Oil and gas condensate discovered at the Wawa well offshore Ghana
2011
- Teak, Ntomme and Akasa Fields discovered offshore Ghana
- Petroleum Revenue Management Act, 2011 (Act 815), as amended (Act 893), enacted to cover the collection, utilisation and management of petroleum revenue
- The Petroleum Commission established by Act of Parliament, Act 821, as the regulator of Ghana's upstream petroleum sector and is mandated to regulate, manage and co-ordinate all activities in this sector for the overall benefit and welfare of Ghanaians.
2010
- National Energy Policy for Ghana approved by Cabinet’s framework, for efficient management of energy resources and revenues accruing therefrom.
- Ghana joins Extractive Industries Transparency Initiative (EITI)
- Discovery of Enyenra oil field
- Owo-1 drilling confirms the reasonably big amounts of oil in the Deepwater Tano. A maximum depth of 4,000 meters has been drilled.
- FPSO Kwame Nkrumah MV21 achieves commissioning of first oil offshore Ghana.
- Official First Oil Ceremony held on December 15, 2010
2009
- The Tweneboa field discovered as new light hydrocarbon field 6 km east of Jubilee
2008
- Construction of the FPSO Kwame Nkrumah begins
- Mahogany, Tweneboa and Enyenra fields discovered offshore Ghana
- Jubilee Phase 1 Development begins
2007
- GNPC, Kosmos Energy, Anadarko and the EO Group discover oil in commercial quantities in the offshore Tano/Cape Three Points Basin of the Ghanaian continental shelf. The Jubilee field is located in the Gulf of Guinea, 60 km off the Ghanaian coast, near the Côte d’Ivoire border. It is spread out in the Deepwater Tano and West Cape Three Points blocks. The wells are at a water depth between 1,100 and 1,300 meters and at a total depth between 3,400 and 4,200 meters. The field covers 110 km², which is about the size of 155 football pitches [Offshore-Technology.com, 2011]. Jubilee is one of the largest oil fields discovered offshore West Africa in the past 10 years.
- Eventually nine production wells bring the oil and gas from below ground to the surface. In addition there will be eight drillings to inject gas and water. All 17 wells will be connected to the Floating, Production, Storage and Offloading (FPSO) Kwame Nkrumah vessel.
- Second Jubilee exploration well, Hyedua-1, discovered and confirms existence of significant oil field.
2004
- George Owusu and his company, the EO Group, identify Kosmos Energy as a viable investor. Their efforts lead Kosmos Energy to Ghana.
- GNPC strikes partnership with US company Kosmos Energy.
- Kosmos acquires the West Cape Three Points block offshore Ghana
- Kosmos arrives in Ghana and begins conducting seismic surveys and analysing data from the country's established offshore province — the Tano Basin.
1989
- GNPC funds the acquisition, processing and interpretation of the first 3D seismic survey over the South Tano Field with the firm conviction that the field is viable.
1985
- GNPC starts operations in 1985 and is partner in all petroleum agreements in Ghana.
1983
- The Ghana National Petroleum Company (GNPC) is created as the country’s national oil company by PNDC Law 64, to support the government's objective of providing adequate and reliable supply of petroleum products and reducing the country's dependence on crude oil imports, through the development of the country’s own petroleum resources.
1978
- Phillips Petroleum finds the South Tano fields offshore Western Region. Several small gas fields were found, but never in commercial quantities.
- Numerous operators began to look into shallow offshore prospects.
1970
- First commercial oil success in Ghana as Signal Oil Company arrives in Ghana from the United States and discovers the Saltpond Oil Field, offshore Saltpond in the Central Region of Ghana. This field was developed by Canadians under the company Agripetco. They produced the first oil after eight years.
- Shell Oil Company was also involved in drilling in the Voltaian Basin, all the way up to Brong Ahafo, using data the Russians had collected earlier.
1956
- Gulf Oil, an American oil company arrives in Ghana. They are the first to begin drilling deep wells in the Western Region.
- After Independence, the Russians arrive and take exploration beyond the Western Region, carrying out a survey of the entire Voltaian Basin. There is very little information on these wells which were largely unsuccessful and also drilled without seismic data.
1896
- At this time, there is no geological understanding or seismic data available. Explorers engage in sporadic onshore shallow drilling. In the Onshore Tano Basin in the Western Region, oil from ground seepages is scooped off the ground and used to light lamps.
WHO OWNS THE OIL?
Deepwater Tano Block
⦠Tullow Oil & Gas (Operator) 49.95%
⦠Kosmos Energy 18%
⦠Anadarko Petroleum Corporation 18%
⦠Ghana National Petroleum Corporation 10%
⦠Sabre Oil & Gas 4.05%
West Cape Three Points
⦠Kosmos Energy (Operator) 30.875%
⦠Anadarko Petroleum Corporation 30.875%
⦠Tullow Oil & Gas 26.396%
⦠Ghana National Petroleum Corporation 10%
⦠Sabre Oil & Gas 1.854%
Jubilee Field (Located in Both Blocks)
⦠Tullow Oil & Gas (Operator) 34.705%
⦠Kosmos Energy (technical operator for development) 23.491 %
⦠Anadarko Petroleum Corp. 23.491 %
⦠Ghana National Petroleum Corporation 13.75 (10% carried interest, potential 3.75% working interest, if they decide to apply for their back-in right within 60 days after production started)
⦠Sabre Oil & Gas 2.813 %, EO Group 1.75% [Offshore-Technology.com, 2011]
OCTP/ Sankofa – Gye Nyame Oil Field
⦠Eni Ghana (Operator) 47.2% participating interest
⦠VITOL Upstream Ghana 37.8% interest
⦠GNPC 15% carried interest, additional 5% participating interest
** Avenue Lane Press and Author do not make any exppressed claims about data, accuracy and related information. All information were available on web sources as at the release of In Pursuit of Jubilee book in 2017. The information here is not intended for research or reporting purposes, as they could change over time.
