Ghana Gives Eni Green Light For $6B Offshore Gas Project

ACCRA, Nov 24 (Reuters) - Ghana's government has given Italian energy firm Eni the final green light to develop gas resources in the Offshore Cape Three Points (OCTP) block, expected to begin production in 2017, it said on Monday.

The government, hoping to boost oil and gas production, said in a statement that it also planned to acquire a third floating production storage and offloading (FPSO) vessel, to be used for the $6 billion offshore project which must now be approved by Ghana's parliament.

“This project promises to deliver up to 170 million cubic feet of gas per day for the next 20 years and put Ghana on its way to a future where one of the critical constraints to power generation (cheaper fuel) will be addressed" it said.

A senior official at Ghana National Petroleum Corporation (GNPC), a partner in the project, said the $6 billion total covers all costs leading to production of oil and gas, including the initial cost of the FPSO, which will be leased.

Eni operates the OCTP block, in partnership with commodities trader Vitol and GNPC.

Ghana produces around 100,000 barrels per day from the offshore Jubilee field, which also produces 120 million cubic feet of gas. It plans to start production of oil and 50 million cubic feet of gas in 2016 from the Tweneboah Enyeara and Ntomme (TEN) offshore field.

Ghana's economy has seen sustained growth on exports of gold, oil and cocoa and 2014 GDP is projected to stand at 6.9 percent. The government forecast last week, however, it will drop to 3.9 percent this year, in part because of fiscal challenges.

Source: Reuters on Rigzone

Lamborghini Veneno Roadster

By Diego Braghi: making its debut at the Geneva Motor Show, this open racing prototype has been launched to celebrate the Lamborghini’s 50th anniversary. The venue was the Italian naval aircraft carrier Nave Cavour at a special event in Abu Dhabi in June 2014.

Two of the Lamborghini Veneno Roadster’s most distinctive features are the carbon intensive construction and competition derived aerodynamics.

The monocoque has been built in carbon fibre with aluminium front and rear frames and also the interior trim is made of a substance called CarbonSkin. The carbon-fibre monocoque keeps the Veneno Roadster down to an impressively low 1,490 kg dry weight.

Upfront, the Veneno Roadster features a large aerodynamic wing with huge channels and Y-shaped angular headlamps, and Lamborghini placed large plus four sizable exhaust pipes divided by a splitter on the backside. Keeping the monstrous engine behind the seats cool are large vents, while an adjustable rear wing adds much needed downforce.

The engine, a 6.5-liter V12 with 750 horsepower at 8,400 rpm, mated with seven-speed ISR paddleshift gearbox, propels the Lamborghini Veneno Roadster up to 221 mph (355 km/h), taking 2.9 seconds to make this extreme car from zero to 62 mph (100 km/h). 

The wheels have been designed to improve brake cooling, with the carbon fibre ring around the edge channelling cool air to the carbon ceramic discs. The Veneno Roadster is equipped with front and rear horizontal mono-tube damper with push-rod system and permanent all-wheel drive.

Limited to nine units, the £2.8 million (euro 3.3 million) Lamborghini trumps the Bugatti Veyron as the most expensive supercar on sale.