Aker Energy, a Norwegian oil company, has announced the submission of a Plan of Development (PoD) to Ghanaian Energy Ministry for its Deepwater Tano/Cape Three Points (DWT/CTP) block offshore Ghana.

Meanwhile, the submission of the PoD marks a major milestone for the company and its partners as it seeks to begin the development of the Pecan field, which is the largest of several discoveries in the contract area.

The PoD outlines a comprehensive plan for the phased development and production of the resources in the DWT/CTP contract area.

The phased development plan will begin with the development of the Pecan field, which is located in ultra-deep waters ranging from 2,400 to 2,700 meters about 115 kilometers offshore Ghana. The field will be developed with a Floating Production Storage and Offloading (FPSO) vessel and a subsea production system (SPS).

The operator and Its partners are expecting significant proceeds from the Pecan field development and subsequent phases, which they hope will benefit the Ghanaian people. The PoD presents an overall plan for a phased development and production of the resources in the DWT/CTP contract area.

Kadijah Amoah, Chief Executive Officer (CEO) of Aker Energy, said in a statement that it is a major milestone for them.

“We are proud to say that together with our partners and the Ghanaian authorities, we have submitted a comprehensive plan of development that will form the basis for the sustainable and efficient development of the Pecan field.”
Kadijah Amoah

The CEO went on to add that despite the significant challenges the company faced, they have shown once again their resilience and unflinching commitment to the project.

“We now look forward to the approval of the PoD so we can get to work, developing and producing the resources for the ultimate benefit of the Ghanaian people.”
Kadijah Amoah

Aker Energy has been operating in Ghana since 2018 and has been conducting extensive exploration and appraisal activities in the DWT/CTP block. The company has said that the PoD submission marks a significant milestone in its efforts to develop the resources in the block and to bring them to market in a safe and sustainable manner.

As Ghana seeks to increase its oil production and develop its offshore oil industry, Aker Energy’s PoD submission is a positive step towards realizing this goal. The company and its partners have demonstrated their commitment to developing the resources in the DWT/CTP contract area, and they will no doubt be eagerly awaiting the approval of the PoD so they can begin the next phase of their operations.

Aker Energy owns 50 per cent of the Deepwater Tano Cape Three Points (DWT/CTP) oilfield in the country. The company holds significant oil reserves too.

Drilling operations have confirmed contingent resources of 450–550 million barrels of oil equivalents in the Pecan field DWT/CTP block. Given the historic collapse in oil prices in the first quarter 2020 as a result of the Covid-19 pandemic and geopolitical tension, Aker Energy came to a decision to postpone the Pecan project indefinitely.