BLACK GOLD BULLETIN

Tullow Ghana and its partners have announced a planned maintenance shutdown at the Jubilee field later this month. FPSO Kwame Nkrumah Starting on Tuesday, March 25, the 16-day maintenance work aims to enhance operations, increase production capacity, and minimize risks in the field. During this period, Tullow Ghana will carry out critical repairs and upgrades on the Kwame Nkrumah FPSO vessel, including retooling essential equipment, performing leak tests, and expanding the facility to support higher gas exports. This announcement comes after the company recently completed a 4D seismic survey of the Jubilee and TEN fields to identify future drilling opportunities and ensure sustainable resource development. These measures are also aimed at extending the operational life of the FPSO and preparing it for a mini-drilling campaign scheduled for May 2025. To maintain a steady gas supply to the country, the partners have reached an agreement with the government to temporarily source gas fro...

The government is projected to generate $1.1 billion in 2025 to clear outstanding payments owed to ENI for gas supply. Finance Minister, Dr. Cassiel Ato Forson These obligations cover monthly invoices, replenishments of letters of credit (LC), and overdue arrears. This financial commitment was disclosed during a high-level discussion involving Finance Minister Dr. Cassiel Ato Forson, Energy Minister John Abdulai Jinapor, and ENI representatives. Despite mounting financial challenges in the energy sector, the government reiterated its dedication to maintaining a stable gas supply. Dr. Forson attributed the significant debt burden partly to the previous administration’s failure to fulfill its financial obligations, forcing the current government to settle arrears while managing ongoing payments. “Our monthly energy costs stand at 2.5 billion cedis, with fuel and power generation alone consuming 1.9 billion cedis. Yet, ECG collects just 1.3 billion cedis, leaving a gaping shortfall of 1...