Aker Energy submits $4 billion oilfield plan to Ghana

The ministry of energy has received a $4.4 billion plan for developing the fourth oil producing oil field offshore in the country.

Per a Graphic.com.gh report, Aker Energy, a Norwegian oil company, has disclosed that the total reserves at the Pecan field development in the Deepwater Tano/Cape Three Points (DWT/CTP) block are estimated at 334 million barrels of oil.

A plateau production, YEN.com.gh learnt, is expected to produce 110,000 barrels of oil per day.

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The plan is subject to approval from relevant Ghanaian authorities, and upon approval, Aker will initiate a process to make a Final Investment Decision (FID). First oil from the Pecan field is estimated at 35 months after the FID is made.

Aker Energy Ghana Limited is the operator under the Deepwater Tano / Cape Three Points (DWT/CTP) Petroleum Agreement with a 50% participating interest. Its partners are Lukoil Overseas Ghana Tano Limited (38%), the Ghana National Petroleum Corporation (GNPC) (10%) and Fueltrade Limited (2%).

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Source: YEN.com.gh