ACCRA, Ghana and OSLO, Norway– Aker Energy Ghana Ltd. and its partners have submitted an integrated plan of development and operations (PDO) for the Deepwater Tano/Cape Three Points (DWT/CTP) block offshore Ghana to Ghanaian authorities.
The PDO was submitted and presented to the Minister of Energy, Hon. John Peter Amewu, at the Ministry of Energy in Accra, Ghana.
The integrated PDO presents an overall plan for a phased development and production of the resources in the DWT/CTP contract area. The phased development plan will start with the development of the Pecan field as a firm phase one, being the largest of several discoveries in the area.
Upon PDO approval from relevant Ghanaian authorities, the partners will initiate a process to make a final investment decision (FID). First oil from the Pecan field is estimated 35 months after FID.
The main Pecan field, located in ultra-deepwaters ranging from 2,400 to 2,700 m (7,874 to 8,858 ft) about 115 km (71.5 mi) offshore Ghana, will be developed with an FPSO vessel and a subsea production system (SPS). The development will comprise of up to 26 subsea wells. It is planned for 14 horizontal oil producers and 12 injectors with alternating water and gas injection, and the use of multi-phase pumps as artificial lift, to maximize oil production.
Total reserves from the Pecan field development are estimated at 334 MMbbl of oil, and plateau production is estimated at 110,000 b/d. Production is expected to last for more than 25 years.
Capex is estimated at $4.4 billion, excluding the charter rate for a leased FPSO.
The Pecan field center will have the flexibility to tie-in subsequent development of resources, according to Aker Energy. In addition to the reserves to be developed in the first phase, the area holds discovered contingent resources (2C) of 110-210 MMboe, combined resulting in an estimated volume base of about 450-550 MMboe.
Total resources in the area have the potential to increase to between 600-1,000 MMboe, provided successful appraisal drilling activity. Data analysis and appraisal drilling are currently ongoing atPecan South and Pecan South East.
CEO Jan Arve Haugan said: “In addition to the FPSO for the Pecan field development, Aker Energy has entered into an option agreement with Ocean Yield ASA for a second FPSO,Dhirubai-1. If the option is exercised, Dhirubai-1 could either be used to accelerate production or for other, potential developments dependent on volumes and geographical distribution of these.”
Aker Energy Ghana Ltd. is the operator under the DWT/CTP Petroleum Agreement with a 50% participating interest. Its partners are Lukoil Overseas Ghana Tano Ltd. (38%), the Ghana National Petroleum Corp. (10%), and Fueltrade Ltd. (2%).
The company said it and the partners have strong ambitions for developing a national oil and gas industry in Ghana.
“Aker Energy has a long-term ambition to go beyond regulatory requirements to develop the local oil and gas industry, through both investments and transfer of technology, know-how and skills,” Haugan said. “Therefore, our owner, Aker ASA, has recently initiated plans to establish a separate investment company, Aker Ghana Industrial Corp., to support the local industry.”