Gulf Oil and Gas accountACCOUNT

Aker Energy Submits an Integrated Plan of Development and Operation for the DWT/CTP

Source: www.gulfoilandgas.com 3/28/2019, Location: Africa

Aker Energy Ghana, as Operator on behalf of its partners, Ghana National Petroleum Corporation (GNPC), Lukoil Overseas Ghana Tano and Fueltrade, has submitted an Integrated Plan of Development and Operations (PDO) to Ghanaian authorities for the Deepwater Tano / Cape Three Points (DWT/CTP) block offshore Ghana.

'This is a proud day for Aker Energy and our partners. After tremendous teamwork and strong collaboration with partners and Ghanaian authorities, we have submitted a comprehensive plan of development and operation. The plan will, once approved, ensure an efficient development and production of the Pecan field and further optimisation of the DWT/CTP petroleum resources in a way that will deliver value to the people of Ghana and to us and our partners,' says Jan Arve Haugan, Chief Executive Officer at Aker Energy.

The PDO was on Thursday 28 March submitted and presented to the Minister of Energy, Hon. John Peter Amewu, at the Ministry of Energy in Accra, Ghana.

'We are very satisfied to have reached this milestone together with Aker Energy and its partners. The submission of the integrated PDO has been a result of collaboration between the Contractors, GNPC, relevant agencies and the Ministry. The Pecan field will be the fourth producing oil field offshore Ghana and will strongly benefit the people of Ghana,' says Hon. John Peter Amewu, Minister of Energy in Ghana.

Integrated PDO for a phased development
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.

The PDO is subject to approval from relevant Ghanaian authorities. Upon PDO approval, the partners will initiate a process to make a final investment decision (FID). First oil from the Pecan field is estimated 35 months after the FID is made.

The main Pecan field, located in ultra-deep waters ranging from 2,400 to 2,700 metres about 115 kms offshore Ghana, will be developed with a Floating Production Storage and Offloading (FPSO) vessel and a subsea production system (SPS). The FPSO will be the centre for processing and exporting of crude oil from the field. The development of the Pecan field will comprise of up to 26 subsea wells. It is planned for 14 advanced, horizontal oil producers and 12 injectors with alternating water and gas injection (WAG), and the use of multiphase pumps as artificial lift, to maximise oil production.

Maximising oil production for the long term
Total reserves from the Pecan field development are estimated to 334 million barrels of oil, and plateau production is estimated to 110,000 barrels of oil per day. Production from the field is expected to last for more than 25 years. The total investments (CAPEX) to develop these reserves are estimated to USD 4.4 billion, excluding the charter rate for a leased FPSO.

The Pecan field centre will have the flexibility to tie-in subsequent development of resources. In addition to the reserves to be developed in the first phase, the area holds discovered contingent resources (2C) of 110-210 million barrels of oil equivalent (mmboe), combined resulting in an estimated volume base of approximately 450–550 mmboe. Total resources in the area have the potential to increase to between 600-1000 mmboe, provided successful appraisal drilling activity. Data analysis and appraisal drilling are currently ongoing at Pecan South and Pecan South East.

'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,' Mr. Haugan says.

Beyond local content
Aker Energy and partners expect the Pecan field development and subsequent phases to provide significant proceeds to Ghana. Furthermore, 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. Therefore, our owner, Aker ASA, has recently initiated plans to establish a separate investment company, Aker Ghana Industrial Corporation, to support the local industry,' Mr. Haugan concludes.

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

For more information about related Opportunities and Key Players visit West Africa Projects

Development News in Ghana >>

Norway >>  6/12/2019 - Equinor and its partners will disclose datasets from the Sleipner field; the world's first offshore CCS plant, in a push to advance innovation and dev...
Argentina >>  6/11/2019 - ExxonMobil said it is proceeding with a long-term oil development in Argentina’s Bajo del Choique-La Invernada block. The project is expected to produ...

Russia >>  6/7/2019 - Gazprom Neft, Repsol and Shell have signed a memorandum of understanding at this year’s St Petersburg International Economic Forum on establishing a j...
Russia >>  6/7/2019 - President of LUKOIL Vagit Alekperov and the Head of the Komi Republic Sergey Gaplikov signed the Agreement on Cooperation for 2019 – 2021 on the sidel...

Russia >>  6/7/2019 - PAO NOVATEK (“NOVATEK”), China COSCO SHIPPING Corporation Limited, PAO Sovcomflot and Silk Road Fund (the “Parties”) signed an Agreement in respect of...
Vietnam >>  6/7/2019 - As part of today’s Saint-Petersburg International Economic Forum, PAO NOVATEK, Total Gas & Power Business Services S.A.S, Siemens Aktiengesellschaft a...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Ghana Oil & Gas 1 >>  2 | 3 | 4 | 5 |

Oil & Gas Projects in Ghana >>

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.