First Lady to commission $875 oil tanker for Ghana

The Floating, Storage, Processing and Offloading vessel or FPSO, to be used in the production of the country’s crude oil in commercial quantities, will be commissioned by the First Lady Naadu Mills in Singapore on May 1st.

The FPSO is the main vessel or tanker to collect and process crude oil from the Jubilee field in the fourth quarter of this year.

A statement released by Tullow Oil, the operator of the Jubilee Field, describes the project as one of the most fast-tracked and efficiently executed in the oil industry.

Construction began in 2008 and involved the conversion of an existing tanker by MODEC, a leading international company in the FPSO industry.

The vessel is estimated to cost $875 million. It can process 120,000 barrels of oil a day and has a storage capacity of 1.6 million barrels.

A delegation of government officials and Chief Executives of the partners of the Jubilee Field Project will join the First Lady for the commissioning of the FPSO, which is currently docked at Singapore’s Jurong Shipyard.

It will set off for Ghana in two weeks.

The President and General Manager of Tullow Ghana Limited, Dai Jones, says the pace of construction of the FPSO, its magnitude and complexity, and the state-of-the-art technology deployed, demonstrate that the Jubilee Phase One project will set new standards for oil production.

Myjoyonline, Apr. 28th, 2010