Report summaryCape Three Points is a large deepwater block located offshore western Ghana. The block contains the Sankofa Main, Sankofa East and the Gye Nyame discoveries. Sankofa Main and Sankofa East are oil and gas fields and Gye Nyame is a gas/condensate field. A plan of development (POD) was submitted to the Ghanaian government and approval was granted in January 2015. A Final Investment Decision (FID) was taken shortly after and Yinson was awarded the contract for the chartering, operation and maintenance of the floating production offloading and storage (FPSO). The development will involve subsea wells tied back to the vessel, which is scheduled to arrive in mid-2017. We assume oil, gas and condensate production will begin in 2018. We classify Sankofa East and Sankofa Main as commercial while we classify Gye Nyame as a technical field. Demand for gas helped the partners to secure a sales price above US$9.00/mcf, which is significantly higher than the West Africa Gas Pipeline entry price.
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