Ghana Oil and Gas Profile
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Ghana News

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Introduction

  • Ghana discovered her first large-scale, commercially viable oil field in 2007. The first commercial production is slated to commence during the last quarter of the year - 2010. Since the discovery, major players such as Petrochina and Exxon have been trying to acquire an interest in the country.
  • The US geological survey estimates that the "Gulf of Guinea Province" which lies partly in Ghana's waters, contains 4,071 MMBO, 34,451 BCFG, and 1,145 MMBNGL

Regulation

  • -

Reserves

  • Five (5) sedimentary basins have been identified in the country. These are:
    • The inland Voltaian basin
    • Offshore Accra-Keta basin with an onshore extension
    • Offshore Saltpond (Central) Basin
    • Offshore Tano basin with an onshore extension
    • Offshore Cape Three points (this is sometimes considered as part of the Tano basin)

Discoveries

Field Basin Year Type
Saltpond Saltpond 1970 Oil & Gas
Cape Three Points Cape Three Points 1973 Gas
South Tano Tano 1978 Oil & Gas
3-AX block Tano 1979 Gas
North Tano Tano 1980 Gas
West Tano Tano 2000 Oil

Upstream

  • In June 2007, the Kosmos Energy team discovered the Jubilee Oil Field following the drilling of the Mahogany-1 exploration well in Ghana’s deep waters. This is possibly one of the largest oil finds in the last decade offshore West Africa. With this discovery, Ghana went from being a country without oil, to potentially becoming a major player.
  • The estimated resource range for the Jubilee Oil Field, is now estimated to be between 600 million barrels of oil equivalent (BOE) and 1.5 billion BOE.
  • Chinese companies have been actively seeking opportunities and signed an agreement with the Ghanaian Government in September 2010

Active Companies

  • Twelve (12) acreages were awarded to ten (10) oil and gas companies between 2002 and 2008. Most of the Agreements are running on schedule.
  • The Agreements are identified below by their operators as follows:
  1. Kosmos Energy Ghana HC (Kosmos), over the Deepwater West Cape Three Points block;
  2. Tullow Ghana Limited (Tullow), over the Shallow Water Tano Fields including the discovered North and South Tano Fields; and the West Tano Heavy Oil discovery;
  3. Tullow Ghana Limited, over the Deepwater Tano Basin;
  4. Vitol Upstream Ghana Limited (Vitol - formerly Heliconia Energy Ghana Limited), over the Offshore Cape Three Points area, east of the Kosmos acreage;
  5. Vitol Upstream Ghana Limited (formerly Heliconia Energy Ghana Limited), over the South Cape Three Points acreage;
  6. Hess Ghana Limited (Hess) – (formerly Amerada Hess Ghana Limited), over Deepwater Tano Cape Three Points (south of the Tullow and Kosmos blocks);
  7. Vanco Ghana Ltd. (Vanco), over the Cape Three Points Deepwater block;
  8. Aker ASA over South Deepwater Tano contract Area. This is the western part the area relinquished by Vanco;
  9. Gasop Oil (Ghana) Limited, over Deepwater Saltpond Basin;
  10. Saltpond Offshore Producing Company Limited, over the existing Saltpond Field;
  11. Oranto Petroleum International Limited, over the Saltpond area;
  12. Afren Energy Ghana Ltd., over the deepwater Keta Basin (Afren took over the Devon block).
List of Companies

Midstream

Downstream

  • There is one refinery in Ghana, the 43,000 bbl/day Tema Refinery, owned by Tema Oil.

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