Business News of Thursday, 7 July 2022
Source: www.ghanaweb.live
2022-07-07Government grants extension to Aker Energy for Plan of Development submission
Map showing locations of Deepwater Tano Block, West Cape Three Points Block
Russia-Ukraine conflict impacts on supplier commitments
Peter Amewu in 2019 received Integrated Plan of Development and Operations for Aker Energy
First oil from Pecan field estimated at 35 months after FID is initiated
The Government of Ghana has granted an extension to Aker Energy Ghana Limited to submit its Plan of Development (PDO).
According to a statement issued by the oil exploration company, the
Read full article.decision to grant the extension comes after uncertainties around supplier commitments triggered by the Russia-Ukraine conflicts.
“The Government of Ghana, Aker Energy and its licensed partners have agreed to work together to resolve the issues to facilitate a timely submission of the Plan of Development,” the statement said.
In March 2019, Aker Energy Ghana earlier submitted its Integrated Plan of Development and Operations (PDO) to Ghanaian authorities for the Deepwater Tano/Cape Three Points (DWT/CTP) block offshore Ghana.
The plan was submitted and presented to the former Minister of Energy, John Peter Amewu for an overall plan for a phased development and production of the resources in the DWT/CTP contract area.
The PDO commences with the development of the Pecan field as a firm phase one, being the largest of several discoveries in the area.
The PDO is however subject to approval from relevant Ghanaian authorities and upon this, the development partners will initiate a process to make a final investment decision (FID).
Meanwhile, first oil from the Pecan field is estimated at 35 months after the FID is initiated.
The main Pecan field is located in ultra-deep waters ranging from 2,400 to 2,700 metres about 115 kilometres offshore Ghana. It is expected to be developed with a Floating Production Storage and Offloading (FPSO) vessel and a subsea production system (SPS).
The FPSO will be the centre for processing and exporting of crude oil from the field and 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), along with the use of multiphase pumps as artificial lift, to maximise oil production.
MA/FNOQ
