Norwegian oil company Aker Energy has 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 is subject to approval from relevant Ghanaian authorities before a final investment decision (FID) is made. First oil production from the Pecan field could start 35 months after the FID, i.e. as early as 2022.
In a first phase, Aker Energy will focus on the development of the Pecan field, the largest of several discoveries in the area, with total reserves estimated at 334 mbl of oil and a plateau production estimated at 110,000 bbl/d over a 25-year period. Total investments are estimated to US$4.4bn, excluding the charter rate for a leased FPSO. Subsequent development of resources could be tied-in later, as the area holds discovered contingent resources (2C) of 110-210 mboe, raising estimated resources to 450–550 mboe. Total resources could even rise to 600-1,000 mboe, pending successful appraisal drilling activity.
Aker Energy is the operator under the DWT/CTP Petroleum Agreement with a 50% stake, in partnership with Lukoil (38%), the Ghana National Petroleum Corporation (GNPC) (10%) and Fueltrade (2%).