550m barrels of oil discovered in Ghana

550m barrels of oil discovered in Ghana

- Aker Energy has announced the discovery of between 450 to 550 million barrels of oil in the Western Region

- The well was drilled at the Pecan field, which is approximately 166 kilometres southwest of the regional capital, Takoradi

Information available to YEN.com.gh shows that Aker Energy has discovered oil in commercial quantities at Takoradi in the Western Region.

According to Starrfmonline.com, the company announced that between 450 to 550 million barrels could be obtained from the Pecan field.

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.

A man wearing spectacles
John Peter Amewu, Minister of Energy Source: Supplied
Source: UGC

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The Deepwater Tano Cape Three Points(DWT/CTP) block offshore Ghana contains seven discoveries, of which Pecan is the main discovery to date, Aker Energy revealed.

“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 optimize 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.

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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 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%).

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Source: YEN.com.gh

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