THE EVOLUTION OF AN UPSTREAM PETROLEUM INDUSTRY THE GHANAIAN EXPERIENCE. Theo Ahwireng Pegasus, Georgetown, Guyana 23 rd Oct. 2017
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1 THE EVOLUTION OF AN UPSTREAM PETROLEUM INDUSTRY THE GHANAIAN EXPERIENCE Theo Ahwireng Pegasus, Georgetown, Guyana 23 rd Oct
2 Outline Country Profile Sedimentary Basins Upstream Petroleum Industry History Development of Legislation Institutional Arrangement Mandate of the Regulator Coordination/ Key Message
3 Country Profile Total land area : 238,533 sq. km Capital : Accra Official language : English Currency : Cedi Population : 27 million (2015) Government : Multi-party Democracy Mainstay of Economy : Agric/Service/Mining and Petroleum 3
4 Sedimentary Basins Ghana has 4 sedimentary basins (Three offshore and one onshore). The offshore basins cover an area of ~ 63,000 sq. km at 3,000m bathymetry and estimated proven reserves of 1035 mmbo and 1.5 Tcf gas The play types are structural (Devonian) and stratigraphic/ combination (Cretaceous) The onshore basin covers ~103,600 sq. km and is currently being explored to establish its prospectivity 4
5 Upstream Petroleum Industry - History Ghana s Upstream Petroleum Industry dates back to Initial wells drilled in the onshore Tano Basin where seepages were observed. The first discovery between 1896 and 1903, produced about 5 bopd. Gulf Oil Company acquired the onshore Tano License and drilled 4 wells between Exploration moved offshore around 1967 in a number of discoveries including Saltpond Field in Offshore area subsequently divided into 22 blocks in
6 UPI History Contd Extensive international participation in the Upstream Exploration became planned & sustained after establishment of GNPC by PNDC Law 64 (1983). Jubilee Field (2007) became the first major commercial discovery. Oil Seeps, Onshore Tano Jubilee was the single largest discovery in the world in that year. In 2007, the Mahogany -1 well in the WCTP block by Kosmos discovered the Jubilee Field. This was appraised by the Hyedua-1 well in the DWT Block. 22 Offshore Concessions,
7 UPI History Contd Since then, 25 additional discoveries have been made offshore some of which have been appraised for development. The Jubilee Field was developed in a record time of 40 months and within budget. Jubilee Field came on production in December 2010 and is currently being operated by Tullow on behalf of the Jubilee partners. 7
8 UPI History Contd In 2015 the damage of the FPSO KNK interrupted operation on Jubilee: Interim Spread Mooring in place. By mid-2017 about 200 mm barrels of oil had been produced and about 52 bcf of gas have been exported to GNGC. TEN Fields comprise the Tweneboa, Enyenra and Ntomme hydrocarbon pools discovered between TEN came on production in August 2016 using a turret moored FPSO. As of mid 2017 had produced was about 13 MMBO 8
9 UPI History Contd The OCTP Project, made up of Sankofa, Gye Nyame and Sankofa East Fields were discovered between and commenced May The DWTCTP Project comprises seven back discoveries that were made by Hess between The oil discoveries have been appraised but development slowed down due to the Provisional Measures ruling by the ITLOS. Pre-development studies are ongoing with development drilling expected to commence in
10 Chronology of Ghana's E&P Sector Development Development of Fields 25 discoveries made post Jubilee Three Fields (Jubilee, TEN and OCTP) in production Continous Exploration works underway Offshore Exploration Success Dana Petroleum discovered West Tano with WT-1X, WT-2X Hunt Oil encountered oil in the WCTP-2X 2007: Jubilee Field discovered, commercial success Intensified Offshore Exploration Shift to Offshore Exploration PetroCanada acquired extensive Tano 2D and drilled 2 offshore and 11 onshore wells 1983: GNPC established GNPC acquired 3D over South Tano 1989: ARCO discovered gas with CT 1-1 and heavy oil with NWT Onset of Petroleum Exploration Data acquisition commenced in offshore Saltpond and Tano Basins 1970: First offshore well, VT 1-1 drilled by Volta Petroleum. North Tano and Saltpond Fields also discovered 1978: Phillips Petroleum discovered South Tano with IS-1X 1978: Commencement of production from Saltpond Field Onshore exploration began 1896 in Tano Basin Drilling targets were locations with oil seeps About 21 shallow onshore wells drilled First documented discovery made 10
11 Current Offshore Acreage Position 11
12 Development of Legislation Post 2007 there has been development in legislation to ensure effective monitoring by competent authorities. Prior to major commercial discovery 3 key laws governed the industry Model Petroleum Agreement - a synthesis of the laws and a basis for negotiating Petroleum Agreements. A number of Laws have been passed to ensure transparency, fairness and regulatory predictability. 12
13 Development of Legislation Existing Legislation Legislation & Guidelines Under Development The 1992 Constitution of the Republic of Ghana Ghana National Petroleum Corporation Law, (1983) PNDCL 64 Income Tax Act (2015), Act 896 Health, Safety and Environment Data Management General Petroleum Regulations Recent Acts and Regulations Petroleum (Exploration and Production) Act, (2016) Act 919 Petroleum Fees and Charges Regulations Petroleum Measurement Regulations Petroleum Revenue Management (Amendment) Act, (2015) Act 893 Petroleum Commission Act, (2011) Act 821 Petroleum (Local Content and Local Participation) Regulations, (2013) LI 2204 Policies, Guidelines & Protocols Gas Master Plan Gas Pricing Policy Local Content Policy Oil and Gas Insurance Protocol Joint Venture (JV) Guidelines Company Registration and Contracting Guidelines Petroleum Measurement Regulations Guidelines 13
14 Institutional Arrangement Resource owner, Develops and Formulates Policy Regulates the Upstream Petroleum Sector & Manage Petroleum Resources Vehicle through which the State participates Ministry of Energy Petroleum Commission GNPC 14
15 Institutional Arrangement Contd GNGC Gas Monetization The Implementation of the Western Corridor Ga Piping and Interconnection of Jubilee and TEN Gas to the Gas Processing Plant. The OCTP Onshore Receiving Facility (ORF) at Sanzule The PIAC Is an independent statutory body mandated to promote transparency and accountability in the management of petroleum revenues in Ghana 15
16 FUNCTIONS OF THE PETROLEUM COMMISSION Promote planned, well executed, sustainable and cost efficient petroleum activities to achieve optimal levels of resource exploitation for the overall benefit and welfare of citizens; Recommend to the Minister national policies related to petroleum activities; Monitor and ensure compliance with national policies, laws; regulations and agreements related to petroleum activities and carry out necessary inspection and audit; Ensure compliance with health, safety, and environmental standards in petroleum activities; Promote local content and local participation; Assess and approve appraisal programmes; Manage a national petroleum repository; Advise the Minister on matters related to petroleum activities; and etc. 16
17 LOCAL CONTENT & LOCAL PARTICIPATION DEVELOPMENT Supply Chain Localization 17
18 THOUSANDS ($) Local Content Development - SC TOTAL VALUE OF SERVICE TOTAL VALUE OF SERVICE A total value of USD$7.2B have been awarded from Over USD1.3B was awarded to indigenous companies For 2015 alone total value of service to Ghanaian companies amounted to $370.9m a 47% increase in total value for the same period in ,500, ,000, ,500, ,000, , For the OCTP project alone it is estimated that US$1.7m of the US$6.2m was awarded to indigenous cos. (mid 2017) Foreign 114,154,9 24,810,00 16,572,50 694,330,1 2,061,336 1,113, ,354,2 379,900,9 1,300,209 Local 1,274,858 74,107,93 55,609,93 152,492,8 118,314,6 141,956,0 92,593,62 254,540,9 370,876,2 18
19 Local Content Development - SC In-country fabrication Module Stools Jumpers Suction Piles Sleepers Riser Base Manifolds Mud Mats Riser Protection Frames 20% engineering design of URF for the TEN project GTES In-country Capital Investments Waste Management / Thermal Absorption Plants Cementing Units at Takoradi Fabrication yards in Takoradi Insurance Placement in the upstream sector (Insurance Protocol) Establishment of capacity building institutions JTTC RMU and Takoradi Polytechnic EDC 19
20 Local Content Development - SC Maximization of In-Country Spend Local Supplier Development Specific Sector Development Technology and Skill Transfer 20
21 Local Content Development - Localization Localization of Jobs PC has developed a M&E framework to monitor succession plans and training programmes of Companies using the facilitation of work permit as an instrumental vehicle. Capacity Development Ghana Upstream Sector Internship Programme (GUSIP). Ghana Upstream Sector Technical Vocational and Apprentiship Programme (GUSTVAP). 21
22 Concluding Remarks Ghana s search for oil and gas dates back to The discovery of Jubilee - dawn of a new era in Ghana s E&P industry the last ten years have been very eventful Jubilee discovery triggered many initiatives; National forum on Petroleum, Development of Objectives, Policies and Legislation Institutions including the Petroleum Commission; Ghana Gas, PIAC have since been formed and are operational 22
23 Concluding Remarks Contd Execution of PCs mandate has created significant value to the state 3 projects; Jubilee, TEN and Sankofa-Gye Nyame have been delivered producing at about 160KBOPD and 190MMSCFPD Indigenous businesses and personnel now participate actively in the industry Like anything else, many challenges have been encountered in Ghana viz; readiness of Gas Processing Plant, Inadequate indigenous capacity, FPSO turret damage, better desired fiscal terms, low oil prices, Ghana- Cote D Ivoire maritime disputes.. 23
24 Concluding Remarks Success in this industry thrives on strong coordination among a wide range of stakeholders government, ministries, departments and agencies in association with international and local industries, communities, civil societies and others. Like an orchestra each must endeavour to play its part For the private sector; think long-term but act now, develop capacity, compete fairly and pay your taxes. Deploy innovative strategies to deepen indigenous participation, develop people, grow companies, cut cost, improve efficiency and impact the people and the economy of your Guyana 24
25 Concluding Remarks You can do it. It is possible. God bless the Upstream Petroleum Industry, God bless Guyana Thank You 25
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