FPSO Kwame Nkrumah expected in Ghana next week

The oil vessel to be used in the production of the country's crude oil in commercial quantities is expected to arrive in the country next week.

According to GNPC officials, the FPSO named after Ghana's founding President should be in the country's territorial waters as early as Monday.

The vessel set off on May 21st from the Jurong Shipyard in Singapore where it was built after it had been commissioned FPSO Kwame Nkrumah by the first lady Ernestina Naadu Mills.

It is the main vessel that will collect and process crude oil from the Jubilee field when actual production begins later this year.

Tullow Oil, 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 dollars. It can process 120,000 barrels of oil a day and has a storage capacity of 1.6 million barrels.