Kosmos Energy, a US-based energy firm and one of the Jubilee Field partners offshore Republic of Ghana, has planned to invest US$1.3 billion to rump up gas production in the TEN field.
This new capital injection is expected to lead to the production of more gas for Ghana at a relatively cheaper price.
Joe Mensah, senior Vice President and head of the Ghana Business Unit of Kosmos Energy, who disclosed this during an interview at the just-ended African Energy Week in Cape Town, South Africa, hopes the new investment would improve the performance of the field which was earlier designed to produce 80,000 barrels of oil per day but has since been churning out lower volumes.
Ghana, according to him, is now paying US$2.90 per MMBTU of gas from the Jubilee field.
He said, “The TEN field was designed to produce 80,000 barrels of oil a day but today it is producing only 20,000 barrels, and the investment that we’ve made in there we want to make sure that we get some value from it
“We’ve discovered that we can actually explore for more gas in the TEN field and the country needs gas badly. So we want to invest US$1.3 billion to improve the TEN field so we pull more gas for the country,” he added.
Source: https://energynewsafrica.com