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Oil & Gas

Ghana earned over $444m from oil export in 2011 – President Mills

President John Evans Atta Mills on Thursday disclosed that Ghana earned a total of $444,124,724 from the sale of Ghana Group’s oil lifting of 3,930,189 barrels of crude oil. He said some challenges in production at the Jubilee Oil Field had been scaled down pending the completion of a remedial …

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Commercial drivers say 20% fuel price reduction insignificant

Some commercial drivers in the Wa Municipality have described the recent 20 per cent reduction in  fuel prices as woefully insignificant and would have no positive impact on the cost of living. They said it would rather create problems, as passengers would demand a reduction in fares, which according to …

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British Afren says Italian Eni starts drilling oil at Keta block offshore Ghana

British oil firm, Afren Plc on February 6, 2012 announced that Italian oil giant Eni has started drilling on the Keta block, located in the Volta River Basin offshore Ghana. “Eni Ghana exploration and production Ltd., operator of the Keta block which is located in the Volta River Basin offshore …

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Kosmos Energy sued for ‘misleading’ shareholders on Ghana’s Jubilee oil output

Texas-based oil explorer Kosmos Energy has been sued in the US for giving false projections to shareholders that Ghana’s Jubilee oil fields will be able to produce 120,000 barrels of oil per day beginning 2012. Lead Jubilee operator, Tullow Oil in its trading statement January 18, 2012 said daily output …

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French company Technip gets €100m contracts for Phase 1A Jubilee oil project offshore Ghana

Paris-based oil services company, Technip says February 6, 2012 that it has been awarded two contracts worth approximately €100 million by Tullow Oil for the Phase 1A of the Jubilee project in Ghana. The contracts, Technip said “Cover full project management, engineering, fabrication and installation of a new flexible riser, …

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Arts workers call on government to mitigate effect of fuel hike

Mr Frank Boakye-Yiadom, Chairman of Arts Centre Workers Association (ACWA) in Accra on Friday called on government to institute measures to mitigate the effects of the recent increases in prices of petroleum products. This, he said is affecting cost of production in the country. Speaking to the Ghana News Agency …

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Tullow appoints Barclays Capital, Morgan Stanley as joint corporate brokers

Tullow Oil Plc has appointed Barclays Capital and Morgan Stanley to jointly serve as its corporate brokers. In a brief statement February 2, 2012, Tullow said “it has appointed Barclays Capital and Morgan Stanley & Co. International plc as joint corporate brokers with immediate effect.” The company is listed on …

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Ghana government contracts $1b loans to improve oil and gas sectors

A $150 million loan agreement to finance an ICT-enhanced surveillance and monitoring facility for the oil and gas enclave project in Ghana is to come before Parliaament for scrutiny. Another subsidiary loan agreement involving $850 million to finance the Western Corridor Gas infrastructure development project is also expected before the …

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Boosting Jubilee output: Norwegian Aker wins well service contract offshore Ghana

Norwegian firm, Aker Solutions says February 3, 2012 it has signed a frame agreement with Tullow Ghana Limited to provide well intervention services for Ghana’s Jubilee and Tano deepwater oil fields offshore Ghana. Under the agreement, Aker which has delivered well services to the country’s Jubilee field since 2008 said …

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Tullow, Uganda sign production sharing agreements

Tullow Oil Plc said February 3, 2012 it has signed two new Production Sharing Agreements (PSAs) with the Government of Uganda. According to British-based oil explorer, the new PSAs cover the EA-1 and Kanywataba licences in the Lake Albert Rift Basin in Uganda. It has also been awarded the Kingfisher …

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