Investor Presentaiton
Ghana's Hydrocarbon Sector Takes-Off
Mindful of experience of peers, a solid framework in-place to manage Ghana's hydrocarbon sector
Ministries of
Petroleum and Power
Formulate, implement,
monitor and evaluates
energy sector policies
Petroleum Commission
Regulate, manage and
coordinate activities in the
upstream petroleum sector
GNPC + GNGC
Exploration, production,
and trading of oil and gas
VRA + Grid Co + ECG
Upstream gas offtaker,
power generation,
transmission and
distribution
Ghana's hydrocarbon sector continues to attract investments with growing reserves position
Proven Gas Reserves:
Oil Production (million bbls)
2.1 trillion cubic feet
62.4
Proven Oil Reserves:
1,1143 million barrels
Gas Production ("000 MM Scf)
40.5
41.3
35.6
37.2
37.6
24.2
26.4
1.2
2010
2011
2012
2013
2014
2015f
2016f
2017f
2014
2015f
2016f
2017f
Millions
4
3
2
1
0
January
Quantity Produced (bbls) (LHS) --Daily Production Average (bbls) (RHS)
February
March
26.7
23.0
10.4
Average Production of over 100,000 bpd in 2015
Thousands
120
100
- 80
DEEPWATER TANO
TULLOW 49.95% (op)
60
Wawa Discovery Area
40
TEN Development &
Production Area
20
TEN
Fields
0
April
May
June
July
August September
Tullow 47.175%
Wawa
Teak
Jubilee
Field
Development
Ghana
WEST CAPE
THREE POINTS
TULLOW 26.405%
Akasa
Mahogany
Numerous Positive
Developments
Amendments to the Petroleum
Revenue Management Act have
improved flexibility of oil price
benchmarking for the budget while
also firming up the distribution
formula for receipts
Preliminary ruling on of the
International Tribunal on the
disputed area of the Ghana- Cote
D'Ivoire border placed a
moratorium on drilling of new wells
in the disputed area, but enabled
work to continue on ongoing wells;
supporting expectations that TEN
will start production on schedule in
Q4 2016. A final ruling is expected
in 2017
As at end Sept 2015, the TEN
project was 74% complete
Conclusion of key agreements to
facilitate the coming on-stream of
Sankofa Gye Nyame with project
development activities in 2015
■ c.US$700mn World Bank
guarantee facilitating
c.US$7.9bn private investments
GNPC commissioned phase-1 of
the Western Corridor Gas
Infrastructure Project in 2015
During 2015, 15,789 MMscf of raw
gas was processed at the Atuabo
Gas Plant and transported to the
VRA for electricity generation at
Aboadze Power Plant
Area Phase 1
Source: Ministry of Petroleum, Ministry of Power | GNPC - Ghana National Petroleum Corporation, GNGC- Ghana National Gas Corporation, VRA- Volta River Authority, Grid Co-
Grid Company of Ghana, ECG- Electricity Distribution Company
32
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