Looks towards 110,000BOPD at peak by 2023
Norwegian operator Aker Energy has submitted a Plan of Development for the Pecan field in the Deepwater Tano Cape Three Points block (DWT/CT), to Ghana’s Minister for Energy, John-Peter Amewu.
The plan, submitted Friday, March 29, 2019, provides an outline of a development project to drain over 400Million barrels of oil equivalent (400MMBOE) in a field located in 2,400 metres of water in the transform margin of the Gulf of Guinea. The assumed cost of the project is $4.4Billion.
Aker Energy has reported that the recoverable reserves estimate could be more than double the 400MMBBOE, as the company envisages new discoveries outside of the main structure.
Aker’s use of the term ‘barrels of oil equivalent (BOE)’, instead of simply ‘barrels of oil (BO)’, for reserves estimate, is an indication that there’s significant volume of gas and/or condensate in the reservoirs. In short, this is not a pure oil play.
Aker Energy has also repeatedly indicated that the field could produce as much as 110,000Barrels of oil per day. What it hasn’t said, in public, is how long the peak production could last. First oil is expected in 2022.
Aker Energy operates the acreage with 50%. Its partners include Lukoil (38%), Fueltrade (2%) and Ghana National Petroleum Corporation (10%).