Offshore Cape Three Points (OCTP) is one of our most important integrated projects in Africa. It has been developed in two phases: the development of oil fields, which started production in 2017, and that of non-associated gas fields, which started producing in 2018 and whose production is entirely destined to Ghana. OCTP has reserves for about 40 billion cubic meters of unassociated gas and 500 million barrels of oil, and is located about 60 kilometres off the country's coast. In May 2019, we made a new gas and condensate discovery in the CTP-Block 4. The well, drilled on the Akoma exploration prospect located about 50 km from the coast and 12 km north-west from the Sankofa hub, has between 550 and 650 billion cubic feet of gas and 18-20 million barrels of associated condensate. The discovery could be quickly put into production via a subsea tie link to the FPSO John Agyekum Kufuor, the floating production, storage and offloading system.
In 2019 development activity of the OCTP oil and gas project was completed. In addition, development activities of the Takoradi-Tema Interconnection project were started including the commercial agreements. The project provides for the construction of gas transportation facilities linked to the current network in the western area of the country. The program will increase the use of natural gas also in the eastern part of the Country.
In 2020, 98% of Ghana’s thermal power was generated by gas, more than 50% of which came from the OCTP project.