K Line Enters FPSO Partnership off Ghana

Image Courtesy: K Line

Japan’s Kawasaki Kisen Kaisha (K Line) has entered into an agreement with three companies to participate in the owning and chartering business for a oil and gas floating production, storage and offloading (FPSO) unit off the coast of Ghana.

Together with its compatriots, Sumitomo Corporation, JGC Corporation and Development Bank of Japan, the shipping company agreed in principle on the FPSO, named John Agyekum Kufuor, which is run by the Malaysian offshore production services provider Yinson Holdings Berhad and its group of companies.

With a crude oil production capacity of 58,000 barrels/day and a gas production capacity of 210 million square feet/day, the FPSO can hold up to 1.4 million barrels of crude.

After commencement of the definitive agreement, the four partners will acquire, through a joint venture, 26% of the shares of Yinson Production (West Africa).

Yinson Production recently entered into a has concluded a 15-year long-term FPSO chartering agreement with Eni Ghana Exploration & Production, an affiliate of the Italian oil company Eni SPA, and started oil production at Offshore Cape Three Point Block (OCTP) located some 60 kilometers south west of Ghana in May 2017.

The partners informed that the domestic supply of natural gas from the FPSO is expected to commence in Ghana by mid-2018. Through the project, the four partners will contribute to stable oil and natural gas supplies in Ghana, thus solving natural gas and electricity shortages in the country.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jul 2017 >>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Global Liner Shipping Asia Conference

Fight. Survive. Thrive. Respond to challenges of consolidation & disruption at the largest gathering of container shipping industry in Asia…

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events: 8th Bunkering in Asia, 4th LNG Bunkering and EMTECH: Ship Emissions Technology Conference. With a proven track record of bringing together top decision makers from various industry sectors, this remains the go to event for ship owners, fuel suppliers, traders and […]

read more >

Indonesia Marine & Offshore Expo (IMOX) 2017

Indonesia Marine & Offshore Expo (IMOX) 2017, Batamis an international maritime and offshore industrial event that brings an international…

read more >

Salvage & Wreck Asia

Could your business be affected by shipwreck? Are you a salvage professional or a wreck removal expert? …

read more >