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Thursday, August 18, 2016
Ghana’s state-run GNPC will sell oil produced from the new TEN development to the country’s Tema refinery.
GNPC’s CEO Alex Mould said, “we are prepared and willing to supply crude to the Tema Oil Refinery and any other eligible bulk consumer in Ghana.” He added that the refineries will have overcome their periodic financial troubles to meet GNPC payments.
GNPC holds a 15% stake in addition to government royalties in the offshore field. The field is expected to come online today (August 18) when Ghanaian president, John Mahama, turns the tap on at the FPSO John Evans Attah Mills.
It is hoped the field will come onstream with an initial production rate of about 23,000 bpd and increase to about 50,000 bpd by the end of 2016.
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