Offshore Cape Three Points (OCTP) is an integrated project for developing fields of oil and non-associated gas. It is the only non-associated gas development project that entirely dedicated to the domestic market in sub-Saharan Africa. We are an operator with 44.44% of the permit for OCTP, which is governed by a concession agreement. The block, which has reserves of about 40 billion m3 of non-associated gas and 500 million barrels of oil, is located about 60 kilometres off the coast of western Ghana. The Sankofa and Gye Nyame fields are developed through wells and systems on the seabed, and linked through pipelines to the floating production, storage and offloading (FPSO) unit John Agyekum Kufuor.
We began production in OCTP in May 2017, just two and a half years after the project was approved. Production began three months before the date in the development plan, with an excellent time-to-market. We also have a share of 42.47% in the offshore exploration licence Cape Three Points Block 4, where in 2019 we drilled the exploratory well Akoma - 1X, finding sizeable gas and associated condensate resources. This discovery presents more potential for oil and gas and will be subject to a campaign of drilling.
In 2019 development activity of the OCTP oil and gas project was completed. In 2020, 98% of Ghana’s thermal power was generated by gas, more than 50% of which came from the OCTP project.