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Libyan Vessel, Kwame Nkrumah, Lifts First Ghanaian Offshore Oil Ever

  • SOURCE: | qwesa2big
  • Libyan vessel named after Ghanaian first president Kwame Nkrumah was the first vessel ever to lift the first shipment of 86,312 metric tons of oil from the Jubilee Oil Field off the Ghanaian coast.

    The field is also named Kwame Nkruma.

    The lifting was done on Tuesday by the Libyan Kwame Nkrumah three weeks after the start of commercial oil production at the oil field.

    Media here reported on Wednesday that the Ghana Maritime Authority (GMA) cleared the vessel earlier in the week to ship oil from the FPSO vessel.

    The Jubilee Oil and Gas Field was found in 2007 with an estimated reserve between 650 million to 1.2 billion barrels while commercial production was officially begun on December 15 last year.

    West oil companies including the Tullow oil, Anadarko Petroleum Corporation and the Kosmos Energy take the controlling shares of the oil field while Ghana National Petroleum Corporation (GNPC) takes only 13.75 percent.

    The shipment marks the first delivery since production started at the offshore oil field Dec. 15.

    Tullow oil, the main operator at the field in Ghana, said Jubilee could produce up to 55,000 barrels of oil per day immediately. In as little as three months, the company said, that production could increase to 120,000 bpd.

    Ghana is looking for experts to develop its offshore potential, as the newly elected government has little experience in managing oil reserves. The Jubilee field is one of the richest oil fields in Africa with potential reserves eclipsing 1.8 billion barrels.

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