Yinson Production has signed a US$600 million agreement to significantly expand the gas compression and treatment capacity of the Sankofa Floating Production, Storage, and Offloading (FPSO) vessel. Located in the Offshore Cape Three Points (OCTP) field, the facility is a cornerstone of Ghana’s energy sector. This new project is designed to boost the vessel’s gas export capacity by more than 60%, a move intended to strengthen the nation's domestic gas-to-power supply chain.
The upgrade project is being undertaken in collaboration with Eni, the operator of the OCTP field. According to the agreement, the technical enhancements are scheduled for completion by the first quarter of 2028. To accommodate this long-term investment, the lease for the Sankofa FPSO has been extended through 2036. The project will focus on the installation of advanced compression systems to ensure that larger volumes of natural gas can be processed and transported to onshore power plants efficiently.
The expansion is expected to have a direct impact on the cost of living by potentially stabilizing electricity tariffs for Ghanaian consumers. By increasing the volume of domestic gas available for power generation, the country can reduce its dependence on more expensive liquid fuels. Industry analysts note, however, that the full benefit of this expansion will depend on the successful integration of the gas into the national grid and how the Public Utilities Regulatory Commission (PURC) calculates the weighted average cost of gas (WACOG) for future tariff cycles.
This investment marks a significant step in Ghana’s efforts to achieve energy self-sufficiency and support industrial growth. The Sankofa field remains a vital asset in the country’s energy portfolio, and the planned capacity increase aligns with broader national goals to provide reliable and affordable electricity. As the project moves toward its 2028 completion date, it is expected to serve as a catalyst for further infrastructure development within the Western Region's energy hub.