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Jubilee FPSO featured on Ghana's currency

Written by  Thursday, 01 June 2017 00:30

Most floating production, storage and offloading (FPSO) vessels are known for making money (or costing a lot of it), but the government of Ghana has decided to turn one into money, literally.

EPCI contractor MODEC announced that the Kwame Nkrumah MV21 FPSO, installed at Tullow's Jubilee field, is now featured prominently on the new 5 Ghana cedi (GH¢5) note, which was issued to commemorate the Ghana's Central Bank's 60th anniversary and Ghana's own 60th anniversary of declaring independence from British rule.

The Kwame Nkrumah MV21 FPSO (owned by the Jubilee partners), which is in 1100m water depth, is capable of processing 120,000 bo/d and 160 MMscf/d of gas, started its oil production in November 2010. In early May 2017, the FPSO reached a milestone of having produced its 200 millionth barrel of oil. Full year 2016 gross production from the Jubilee field averaged 73,700 bo/d, according to operator Tullow.

The Kwame Nkrumah MV21 FPSO on Ghana's currency. All photos from MODEC.

It hasn’t always been easy for the FPSO, Tullow identified an issue with the turret bearing in February 2016.

To remedy the situation, Tullow had to implement new operating and offtake procedures, utilizing a dynamically positioned shuttle tanker and a storage vessel. Tullow then announced in June last year it would carry out a Jubilee turret remediation project, with the primary aim of converting the FPSO to a permanently spread moored facility. “This will allow the tugs currently required to hold the vessel on a fixed heading to be removed, significantly reducing the complexity of the current operation,” Tullow says.

According to a May investor overview presentation, all equipment for this first phase has been installed and all tugs removed, Tullow says.

The next phase will involve modifications to the turret systems for long-term spread-moored operations, Tullow said. Detailed planning amongst the field partners and Ghanaian government are ongoing, with final decisions due in 1H 2017, Tullow says. Work will be carried out in 2H 2017, and it is expected that the facility could be shut down for up to 12 weeks during 2017 to conduct the second phase, Tullow says.

Tullow operates Jubilee with 35.48% interest. The other field partners include Kosmos (24.08%), Anadarko (24.08%), GNPC (13.64%) and Petro SA with (2.73%). MODEC was responsible for the engineering, procurement, construction, mobilization, installation and commissioning of the FPSO.

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