The Ghana National Petroleum Corporation and Tullow Oil Ghana Limited, operator of the Jubilee Field have debunked claims that the country could be shortchanged in its oil revenues.
It follows a revelation that the flow meters on the export pipeline on the FPSO Kwame Nkrumah are not working properly.
Concerns have been raised about a possible corruption of the system as a result of the improvised measuring systems being adopted with civil society groups calling on stakeholders to expedite action in fixing the flow meters.
But the GNPC and Tullow insist there is no corruption.
The two according to a statement released in Accra, maintained that the improvised measurement systems in place on the FPSO Kwame Nkrumah are accurate and reliable.
The statement read; “the quantities of crude oil in the FPSO storage tanks and in the export tanks is measured using calibrated and highly accurate portable electronic gauging tapes in the FPSO storage tanks before and after transfer of crude oil to export tankers.
“The measurements, together with production volumes measured by metering devices located on each producing well and other parts of the production process, help to confirm the export quantities. This represents a comprehensive system that enables use of separate yet accurate metering procedures that guarantee accurate measurements, even when any part of the measurement system fails.
“It needs to be emphasized that these procedures are industry standards for metering facilities and stock tank measurement.”
The statement further assured Ghanaians that the ultrasonic meter will be installed in due time.
“We wish to assure the public also that the replacement Ultrasonic Meter is due to be installed in July to further enhance the measurement system. Tullow and Customs, Excise and Preventative Services have agreed that two representatives from CEPS are always onboard for the export operation.
“CEPS officials witness the various measurement activities and quality control tests, and finally sign off the Bill of Lading that summarises the Export Operation Quantity and Quality items. Given the comprehensiveness of the measurement systems currently in place, Ghanaians can be assured that revenue from the Jubilee Field is secure. To ensure accuracy in reporting, two independent surveyors provide Third Party verification of the Crude Oil Export Operation covering Quantity and Quality and endorse the Bill of Lading. In addition, Tullow and the Jubilee Partners have engaged the Ghana Standards Board on the processes on FPSO Kwame Nkrumah from late 2010.”