Aker Energy aiming for fasttrack production from deepwater Ghana block

Feb. 23, 2018
Aker Energy has an agreement to acquire Hess’ 50% interest in the Deepwater Tano Cape Three Points block in the Tano basin offshore Ghana.

Offshore staff

OSLO, Norway – Aker Energy, a new joint venture between Aker ASA and TRG, has an agreement to acquire Hess’ 50% interest in the Deepwater Tano Cape Three Points (DWT/CTP) block in the Tano basin offshore Ghana.

Total cash consideration for the transaction is $100 million, with a further $75 million payable following approval of the plan for development and operation (PDO) for the 2,101-sq km (811-sq mi) block.

Over the past decade seven exploration and five appraisal wells have been drilled on the block, with estimated 2C discovered resources of 550 MMbbl, and prospective upside of around 400 MMbbl.

Aker Group is currently progressing a development solution incorporating the company’s experience with various projects offshore Norway, and the current plan is for a fasttrack first phase targeting around 400 MMbbl.

The aim is to submit the PDO later this year, followed by first oil in 2021.

Development will be based on an FPSO with a subsea production system and will employ multilateral wells with completion solutions designed to provide improved reservoir contact and achieve a higher recovery factor.

Proven artificial lift solutions should further enhance recovery, while infield pipeline solutions will be designed to provide suitable flow assurance.

The subsea production system will be engineered to facilitate swift tiebacks to the centrally located FPSO during the development’s second phase.

Aker Energy plans to create an independent organization to manage the exploration and appraisal programs and ongoing field development work: it currently has more than 60 people engaged on the project.

One of its goals is to adoptAker BP’s record on the Norwegian continental shelf, including a strong commitment to time-efficient solutions, digitalization, use of alliances, and a flexible organization.

These factors, Aker Energy says, have led to extensive use of advanced well completions and an efficient field development process on Aker BP’s various Norwegian projects.

TRG, the main shareholder in Aker, has been involved in Ghana since 2014 and has an interest in the 3,500-sq km (1,351-sq mi) South Deepwater Tano (SDWT) block through its investment in Petrica Holding.

SDWT block, immediately south of DWT/CTP, contains various strong exploration prospects, and is currently undergoing high-resolution seismic coverage ahead of exploration drilling.

Aker Energy anticipates synergies between the two blocks with potential for a regional development.

02/23/2018

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