Considering that “very few new developments have occurred since 2022”, it is not surprising that a moderate decline in investments in field development is indicated this year. But this decline in investment in field development is being offset by expectations of a very high planned investment activity in fields on stream, the statistics office said.
Ghana’s major offshore oil assets include the Jubilee Field, operated by Tullow Oil, as well as the TEN and Sankofa fields, with players including Kosmos Energy, PetroSA, and the state-owned GNPC.
TechnipFMC has raked in contracts for integrated engineering, procurement, construction and installation (EPCI) of subsea infrastructure in deepwater projects and mature basins. It anticipates winning more contract work in these regions, particularly offshore Brazil, Guyana, USA, and in West Africa and the North Sea, while new frontiers are emerging in Cyprus, India, Mozambique, Namibia and Suriname.
The contract, awarded by ExxonMobil’s Guyana arm, is a limited notice to proceed pending necessary government and regulatory approval. Phase one encompasses front-end engineering and design, while phase two covers engineering, procurement, construction, and installation.
On World Malaria Day, a durbar was held at the Agona Nkwanta Polyclinic. Yinson Ghana and WARA/International SOS Ghana donated essential medical equipment, including BP apparatus, thermometers, pulse oximeters, portable diagnostic sets, Rapid Diagnostic Tests, Antimalarial medications, sanitizers, treated mosquito nets, weighing scales (for adults and babies), baby cots, examination beds, dressing sets, and delivery sets to the clinic.
Pecan Energies, in partnership with Lukoil Overseas Ghana Tano Limited, the Ghana National Petroleum Corporation (GNPC), and Fueltrade Limited, has awarded full scholarships to 20 outstanding students for the 2024/2025 academic year under its flagship Pecan Inspire Scholarship Programme (PISP).
The Chief Executive Officer of the Association of Oil Marketing Companies (AOMCs) says Ghanaians may soon enjoy significantly lower fuel prices at the pump if the cedi continues its recent run of stability.
The first liquefaction train from the North Field east expansion project will start production by mid-2026. “As for North Field West, it is in the engineering phase and will be going into the construction phase somewhere in 2027”, Al-Kaabi, who is also Qatar’s energy affairs minister, told the World Gas Conference in Beijing, as quoted in a statement from QatarEnergy.
Mero-4 will connect 12 wells to the new Alexandre de Gusmão floating production, storage and offloading (FPSO) facility, which has an output capacity of 180,000 bpd. The fourth development will also enable 12 million cubic meters (423.78 million cubic feet) of gas compression a day. The consortium approved the project August 2021.
Earlier this month, Petrobras reported a net profit of BRL 35 billion ($6 billion) for the first quarter. The company achieved adjusted earnings before interest, taxes, depreciation, and amortization of BRL 61 billion ($10.5 billion) and an operating cash flow of BRL 49.3 billion ($8.5 billion).