Aker Energy hands in development plan for Ghanaian offshore field
Oil company Aker Energy 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.
Aker Energy Ghana Limited is the operator under the DWT/CTP Petroleum Agreement with a 50% participating interest. Its partners are Lukoil Overseas Ghana Tano Limited (38%), the Ghana National Petroleum Corporation (GNPC) (10%), and Fueltrade Limited (2%).
Jan Arve Haugan, Chief Executive Officer at Aker Energy, said: “The plan will, once approved, ensure an efficient development and production of the Pecan field and further optimization of the DWT/CTP petroleum resources in a way that will deliver value to the people of Ghana and to us and our partners.”
The PDO was on Thursday, March 28 submitted and presented to the Minister of Energy, Hon. John Peter Amewu, at the Ministry of Energy in Accra, Ghana.
“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 John Peter Amewu.
It is worth reminding that, earlier in March, Aker Energy revealed it had encountered oil in the Pecan South-1A well offshore Ghana. The company will drill a sidetrack well to further appraise the volume potential. The Pecan South-1A well was drilled south of the main Pecan field in the DWT/CTP block
Integrated PDO for 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 meters about 115 kilometers 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 center 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 maximize oil production.
Production to last 25 years
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 $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. 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,” Haugan said.
“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,” Haugan concludes.
Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.
Offshore Energy Today, established in 2010, is read by over 10,000 industry professionals daily. We had nearly 9 million page views in 2018, with 2.4 million new users. This makes us one of the world’s most attractive online platforms in the space of offshore oil and gas and allows our partners to get maximum exposure for their online campaigns.
If you’re interested in showcasing your company, product or technology on Offshore Energy Today contact our marketing manager Mirza Duran for advertising options.