Single Point Mooring Buoy, Tema, Ghana.

EAIF is providing finance of US$ 12 million out of a financing package of US$ 36 million to assist in the construction and installation of a Single Point Mooring system to be located in the land and sea area adjacent to the Port of Tema in Ghana. The total cost of the project will be US$ 47.2 million.

The borrower is Tema Offshore Mooring Limited of Ghana (TOM), whose ultimate parent is Trafigura Beheer BV of the Netherlands, a leading diversified commodity trading group dealing in petroleum products, natural gas, metals, minerals and other commodities. These activities are supported by selective projects related to these core businesses.

TOM has been awarded a 10-year concession to build and operate the mooring system, which consists of two buoys to which tankers can moor and two underwater and land pipelines connecting the buoys to the Tema Oil Refinery. One pipe of 36 inches will handle crude oil from tankers of up to 150,000 metric tonnes in 23 metres of water and the other of 18 inches to discharge ships of up to 50,000 metric tonnes carrying refined gasoline and distillates in 14 metres of water.

After 10-years the system will be transferred to the Government of Ghana. The concession represents the first BOT (Build, Operate and Transfer) arrangement in Ghana and is therefore a role model for other projects.

The project will greatly increase the efficiency of discharge of cargoes into the Tema refinery. The 36-inch pipe will discharge at 30,000 barrels per hour enabling a cargo of 450,000 barrels to be discharged in16 to 20 hours. The 18-inch pipe will discharge at 10,000 to 12,000 barrels per hour allowing a 35,000 metric ship to discharge its cargo in 36 hours.