Aker Energy has discovered oil in commercial quantity in Ghana estimated around 450 – 550 million barrels, the company has announced.

The
well was drilled at the Pecan field approximately 166 kilometres
southwest of Takoradi in Ghana, to a vertical depth of 4,870 meters in
2,667 meters of water. The DWT/CTP block offshore Ghana contains seven
discoveries, of which Pecan is the main discovery to date, Aker Energy
said.

“We
are pleased to announce the well results, confirming our understanding
of the area, as well as the resource base and upside potential in the
DWT/CTP block. Based on these results, we will optimise the Plan of
Development for the Pecan field. There is still a lot of work to be
done, including to conclude the phasing of the development, the size of
first phase and detailing of the concept. Our most important priority
going forward is to deliver a robust field development plan to the
Ghanaian authorities,” the CEO of Aker Energy Jan Arve Haugan stated.

Based
on existing subsurface data from seismic, wells drilled and an analysis
of the Pecan-4A well result, the existing discoveries are estimated to
contain gross contingent resources (2C) of 450 – 550 million barrels of
oil equivalent (mmboe). Aker Energy estimates that with the next two
appraisal wells to be drilled, the total volumes to be included in a
Plan of Development (POD) have the potential to increase to between 600 –
1,000 mmboe. In addition, there are identified multiple well targets to
be drilled as part of a greater area development after submission of
the POD.

“Aker
Energy sees great potential in this promising area offshore Ghana. We
see the foundation for a phased development producing through several
production units. Since we became the operator less than a year ago, we
have established an open, inclusive and transparent collaboration with
Ghanaian authorities. This partnership will enable us to unlock the vast
potential in the area to the benefit of both the Ghanaian society and
our license partners. We are looking forward to continuing and further
strengthening this partnership to develop the Ghanaian oil and gas
industries,” Haugan added.

Aker
Energy is the operator of the DWT/CTP block with a 50% participating
interest. Aker Energy’s partners are LUKOIL (38%), the Ghana National
Petroleum Corporation (GNPC) (10%) and Fueltrade (2%).

Ghana first discovered oil in 2007.

Source: ultimatefmonline.com