The Sankofa gas project in Ghana, expected to help reduce the country’s oil imports by 12 million barrels per annum, and rake in $2.3 billion of revenue, will begin production next week.
“It brings in a lot more jobs. So the economic activities in the Western Region has already increased both onshore and offshore,” said Ben K.D. Asante, Chief Executive Officer of Sankofa Fields.
He added that “with more gas, the secondary usage of gas beyond power generation are going to be elevated.”
The project is being developed by a joint venture comprising of ENI Energy with majority interest of 44.44 percent, Vitol 35.56 percent, and the Ghana National Petroleum Company with 20 percent stake.
The fields are estimated to hold 1.45trillion cubic feet of gas, and will be Ghana’s first non-associated gas project, with a daily contract quantity of around 170 million standard cubic feet.
The project is also expected to provide over 50 percent more of what the country currently gets from the Jubilee and TEN Fields.
He said currently, about 95 percent of Ghana’s gas is used for power generation with five percent for non-power activities.