Oil & Gas Sector

An Expert's View about Special-Purpose Machinery in Ghana

Posted on: 1 Dec 2012

Ghana is looking to commercialise its gas and has commissioned work on the infrastructure to evacuate the associated gas from the Jubilee field.

Oil & Gas Sector In Ghana A young oil & gas industry, growing rapidly, with further offshore discoveries in a politically stable country which is also developing as a commercial hub for oil & gas operations in nearby West African countries. Market overview Ghana’s oil discoveries are all offshore in deep water. There is currently one oil field in production – Jubilee (with an upside potential of over 1 billion barrels), which started production on 28 November 2010.Tullow are the unit operator. There have been further large discoveries in the following fields: Tweneboa/Enyenra – (Tullow), Teak (Kosmos), Sankofa (ENI), Paradise (Hess) and Dzata (Vanco/LukOil). Tullow and partners submitted their plan of development for T.E.N. to the Minister of Energy in early November 2012 and would look to be in production 30 months after agreement. Ghana is looking to commercialise its gas and has commissioned work on the infrastructure to evacuate the associated gas from the Jubilee field. The project allows for a pipeline to and a processing plant in Atuabo, which would then feed the Aboadze thermal power plant (near Sekondi/Takoradi). Work is underway with Sinopec of China delivering this project under funding through Ghana’s master facility loan with the China Development Bank. There is over 23,000 square kilometres of open acreage offshore for further exploration with 103,000 square kilometres in the inland Voltaian basin as well. Key opportunities Opportunities exist across the board in this young industry: ξ Wells; mud logging services, completions, wellbore clean up services ξ Sub-sea infrastructure ξ Construction, installation and commissioning of offshore structures (FPSO, Platforms) ξ A deep-water port with a dedicated oil and gas services terminal ξ Gas to power projects ξ Onshore support and logistics ξ Helicopter and fixed wing aircraft transportation ξ Supply boats, anchor handling boats, diving vessels ξ Pipeline manufacturing from steel ξ Electrical wiring of platforms and vessels ξ Installation and maintenance of instrumentation for production plants ξ Rehabilitation of Tema dry dock to serve growing industry ξ The port town of Takoradi, the logistics centre for the production and exploration operations offshore, is developing rapidly. It is also developing as a hub in supporting oil & gas activity in neighbouring West Africa countries (from Mauritania to Namibia). Given the limitations with current infrastructure this is a town with considerable investment opportunity. ξ Vocational Training in skills to support the growing oil & gas industry. Latest export opportunities – Oil & Gas Latest export opportunities - Ghana Getting into the market Foreign companies applying to operate in the oil & gas sector require a license from the Petroleum Commission (established in May 2012). The annual permit fee for foreign service providers ranges from $70,000 (annual turnover of $10m or less) to $150,000 (annual turnover $20m plus). More about doing business in Ghana Contacts Market intelligence is critical when doing business overseas, and UKTI can provide bespoke market research and support during overseas visits though our chargeable Overseas Market Introduction Service (OMIS). To commission research or for general advice about the market, get in touch with our specialists in country - or contact your local international trade team. ξ Alasdair Hamilton, British High Commission, Ghana. Tel: +233 (0)302 213 231 or email: alasdair.hamilton@fco.gov.uk ξ UKTI Ghana Trade Team, British High Commission, Ghana. Tel: +233 (0)302 213 200 or email: DLAccraUKTIprotect@fco.gov.uk Contact your local international trade team UKTI Events UKTI runs a range of events for exporters, including seminars in the UK, trade missions to overseas markets and support for attendance at overseas trade shows. Latest events – Oil & Gas Major Events EIC Trade Mission to Ghana 18-22 February 2013 Details at http://www.the-eic.com/Events/OverseasDelegations.aspx PennWell’s Offshore West Africa Summit Accra 19-21 March 2013 http://www.offshorewestafrica.com/index.html CWC Ghana Oil & Gas Summit, Accra Date: 23-26 April 2013 Website address: http://www.cwcghana.com/ Useful links More about OMIS and other UKTI services for exporters
Posted: 01 December 2012