Ghana has yet again discovered large deposits of oil ready for commercial exploration. In what is a major oil discovery, the Norwegian company Aker Energy ASA announced on January 10, 2019 that based on existing subsurface data from seismic, wells drilled and an analysis of the Pecan-4A well result, the existing discoveries are estimated to contain gross contingent resources (2C) of 450 – 550 million barrels of oil equivalent (mmboe).
Aker Energy estimates that with the next two appraisal wells to be drilled, the total volumes to be included in a Plan of Development (POD) have the potential to increase to between 1 billion barrels. In addition, there are identified multiple well targets to be drilled as part of a greater area development after submission of the POD..
Originally awarded to Hess in 2006, Hess identified the Pecan discovery in 2012. Between 2012 and 2016 Hess sought, unsuccessfully, to appraise the field and agree on terms with the government of Ghana on a feasible plan of development for the discovery. Hess initial assessment indicated resources of 230 million barrels of oil equivalent.
In 2017, following discussions with the Ghana National Petroleum Corporation, Aker announced its acquisition of Hess’s interest in the DWT/CT License. Aker and its partner working closely in conjunction with the Petroleum Commission and GNPC immediately undertook preparations for an expansive drilling program, with Pecan 4A being the first of three planned wells.
The expansive drilling program with more advanced technology has turned out to be very successful. "We are pleased to announce the well results, confirming our understanding of the area, as well as the resource base and upside potential in the DWT/CTP block. Based on these results, we will optimize the Plan of Development (POD) for the Pecan field to be submitted by the end of March 2019”, says John Arve Haugen, CEO of Aker Energy.
Minister of Energy John Peter Amewu said “multiple government agencies including the Petroleum Commission, GNPC and the Ministries of Energy and Finance have worked closely with the DWT/CT partners to achieve this positive result. Ghana will continue to collaborate with and support Aker Energy and its partners as we jointly work to deliver first oil as quickly as possible and ensure significant value is retained in Ghana for the benefit of our people”.
It is expected that production would begin in 2020. Ghana currently produces 200,000 barrels of oil per day and earns. The Aker discovery will produce an additional 200,000 per day by 2021. Ghana is therefore set to at least double its current earnings from oil exports in the very near future.
Source: Peacefmonline.com
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Dear Kofi, I do understand very well what you seek to bring our attention to, by citing those paragraphs. I do appreciate your appealing effectively to me by not just cooking for me to eat but by giving me the facts to make my own opinion. I am not too sure if the NDC-elements will appreciate being this time, factual to speak to the issue dispassionately without being partisan and doing their usual insulting and peddling lies. All in the name of propaganda and opposition without making any factual sense in their contributions. Now to what I make from your citations, specifically paragraph 2. It was during the watch of the NPP-Administration that the tide was turned in our favor in terms of explicit clarification: Aker and its partner working closely in conjunction with the Petroleum Commission and GNPC immediately undertook preparations for an expansive drilling program, with Pecan 4A and the result is what is yet being reported. Kudos to the NPP-Administration!
We should know that God abhors ***barred word***.
To God be the Glory, it is just by His Grace, We are very very grateful to God Almighty for His mercies on the Nation Ghana. Still the battle is the Lord's.
I'll quote only two paragraphs: 1) "between 2012 and 2016 Hess sought, unsuccessfully, to appraise the field and agree on terms with the government of Ghana on a feasible plan of development for the discovery". 2) "In 2017, following discussions with the Ghana National Petroleum Corporation, Aker announced its acquisition of Hess’s interest in the DWT/CT License. Aker and its partner working closely in conjunction with the Petroleum Commission and GNPC immediately undertook preparations for an expansive drilling program, with Pecan 4A being the first of three planned wells". ENOUGH SAID!
Is the oil really ours??? its been 10 years since we started drilling oil, what do we have to show for????
Why is it that anytime NPP comes to power we discover oil in commercial quantities. It looks like God does not like the way NDC governs. But I like NDC oo. Hmmmm! Maybe I have to reconsider my choice.
What is this guy seeking to arrive at with his determination that, Nana has grown younger after two years in office? Is that a compliment or a reproach? Neither do I want to see it as socratic irony. Or am I being sacarstic? Nevertheless, I do take it as compliment, because Nana has a clear mind and confident about what he has in store for his dear Country Ghana-Ghana beyond aid. And it is instructive to note that, step by step our President is taking us there. Hence ,he is innerly satisfied and his youthful look is indicative of his heathy intentions to raise the standard of living of his loving folks. That is the blatant truth! There are a lot of good things to happen to complement the prudent Leadership of the NPP-Administration. The good God helps those who help themselves.
Everything seem to suggest that the gods are not very happy when ndc rules. When npp is in power, everything seem to going well for the nation. We need to keep them for a very very long time to keep our blessings. The other one, due to unrepented heart, corruption, lies and propaganda, the Almighty and gods had forsaken them. Good people lets do the same!