Kosmos to assist in electricity production

Thursday, April 16, 2009 (Page 40)

KOSMOS Energy, a company which is prospecting for oil in the country, has offered a helping hand to the government in the production of electricity to meet national energy requirements.
Speaking to the Daily Graphic, the Chairman and the Chief Executive Officer of Kosmos Energy, Mr James C. Musselman, said it was unfortunate Ghana had to experience perennial shortage of electricity anytime the Akosombo Dam dried up and, therefore, gave the assurance that Kosmos Energy was ready to help curb that trend.
He said the company was willing to provide gas for the generation of additional electricity to supplement the power generation at the Akosombo Dam by 2010.
Kosmos is currently engaged in the preparation for the commercial production of oil in the Western Region. The company has since 2007 discovered large deposits of oil and natural gas at locations including Jubilee field at the Cape Three Points. Two other fields, namely Hyedua and Tweneboa have also been discovered to contain large quantities of oil and gas.
The Jubilee field, formerly called the Mahogany field, is currently being developed and is expected to experience its first flow of oil by the latter part of 2010.
The Tweneboa-1 well is the seventh consecutive successful well Kosmos Energy and its partners have drilled on the West Cape Three Points Block since the middle of 2007. The Mahogany-1 exploration well discovered the Jubilee field, which was announced in June 2007 and the Odum-1 exploration well discovered by the Odum Field, which was announced in February 2008 while the Mahogany-3 well discovered by the Mahogany Deep Field, which was announced in January 2009.
Touching on the job opportunities following the discovery of oil, Mr Musselman stated that "thousands of Ghanaians must brace up in readiness for job opportunities" and called on persons in the hospitality, real estate, catering, farming, welding, transport, and other trades to take advantage of the job opportunities that would arise when oil production begins in full swing.
“There are a lot of opportunities for businesses and we urge all to come on board and utilise those opportunities,” Mr Musselman advised.
He announced that two installation boats were expected in the country by February 2010 to pave the way for the construction of a subsea structure.
More than 1,000 workers, including both local and foreign, are expected to be employed during the construction phase. Majority of the workers are likely to be specialists in the building of subsea structure for the production of oil.
Mr Musselman said MODEC International, a company which specialised in sub sea structures, would be responsible for the building of the floating, production, storage and offloading (FPSO) vessel.
Along with its block partners, Kosmos Energy plans to execute an exploration and appraisal programme on its Ghanaian acreage during 2009, including the appraisal of the company’s 2009 discoveries at the Tweneboa fields and Mahogany Deep. The company will also engage in the full appraisal and initial development of the Jubilee Field.
Kosmos Energy and its partners are expected to spend $3 billion between now and the first quarter of 2010, while a total of $5 billion would be spent on the project.
The company’s oil discovery in June 2007 is the largest discovery in the world in the past 12 months and the largest in West Africa in the last 10 years.
Tests have proved that oil discovered is among the finest in the world.