Kosmos Energy has said it is set to invest US$1.3 billion to rump up gas production in the TEN field.
The investment will lead to the production of more gas for Ghana at a relatively cheaper price.
Kosmos says this fresh investment will improve the performance of the field which was earlier designed to produce 80, 000 barrels of oil per day but has since been churning out lower volumes.
In an exclusive interview with Emmanuel Aboagye-Waife at the sidelines of the Africa Oil Week in South Africa, the senior vice- president and head of Ghana Business Unit at Kosmos Energy, Joe Mensah, said Ghana is now paying US$2.90 per MMBTU of gas from the Jubilee field.
He said, “The TEN field was designed to produce 80, 000 barrels of oil a day but today it is producing only 20, 000 barrels and the investment that we’ve made in there we want to make sure that we really get some value from it
“…We’ve discovered that we can actually explore for more gas in the TEN field and the country needs gas badly. So we want to invest US$1.3 billion to improve the TEN field so we could pull more gas for the country,” he added.
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