Ghana calls for changes to DWT/CTP deepwater development

Aker Energy has completed its appraisal drilling campaign on the Deepwater Tano Cape Three Points block offshore Ghana.

May 2nd, 2019

Offshore staff

OSLO, NorwayAker Energy has completed its appraisal drilling campaign on the Deepwater Tano Cape Three Points (DWT/CTP) block offshore Ghana.

The program, which started last November, comprised three wells and a side track, and was designed to improve the partners’ understanding of the area and to prove additional resources to support the Pecan field development.

Pecan-4A and Pecan South, the first and second wells, identified the deep oil/water contact and confirmed the partners’ geological model.

A side track then followed to Pecan South to test a deeper part of the structure. It encountered oil shows, but no recoverable resources due to a tight reservoir.

Initial analysis suggests Pecan South could add a further 5-15 MMboe to the Pecan field development.

The third appraisal well, on Pecan South East, found oil in a thin upper sand. The partners will assess data from the well to determine whether this accumulation too could be added to the development.

Following suggestions from the Ghanaian authorities, the company is now working on revisions to its recently submitted plan for development and operations (PDO).

“We are currently updating the application with an ambition to get the formal approval ahead of our final investment decision [FID],” said CEO Jan Arve Haugan.

Once approval comes through, the company will look to produce first oil 35 months after the partners have taken an FID. The first phase will target estimated reserves of 334 MMbbl of oil, with up to 210 MMboe more to be exploited under subsequent phases.

These estimates exclude any additional volumes that may arise from present reviews of Pecan South and Pecan South East. There could be further upside in the area, with total potential resources of 600-1,000 MMboe, Aker Energy added.

The partners are Lukoil Overseas Ghana Tano, Ghana National Petroleum Corp., and Fueltrade.

05/02/2019

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