Aker Energy Confirms Successful Pecan-4A Appraisal Well Offshore Ghana

Aker Energy, as the operator of the Deepwater Tano Cape Three Points (DWT/CTP) Block, announced Jan. 10 that it is about to complete a successful drilling operation of the Pecan-4A appraisal well offshore Ghana.

The well was drilled at the Pecan Field in the DWT/CTP Block approximately 166 km (166 miles) southwest of Takoradi in Ghana, to a vertical depth of 4,870 m (15,977 ft) in 2,667 m (8,750 ft) of water. The DWT/CTP Block offshore Ghana contains seven discoveries, of which Pecan is the main discovery to date.

The main purpose of Pecan-4A appraisal well was to confirm Aker Energy’s understanding of the geology in the area and to identify deep oil water contact in the Pecan reservoir. This was successfully proven.

“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 for the Pecan field. There is still a lot of work to be done, including to conclude the phasing of the development, the size of first phase and detailing of the concept. Our most important priority going forward is to deliver a robust field development plan to the Ghanaian authorities,” Jan Arve Haugan, CEO at Aker Energy, said.

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 to 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 600 to 1,000 MMboe. In addition, there are identified multiple well targets to be drilled as part of a greater area development after submission of the POD.

Aker Energy is the operator of the DWT/CTP block with a 50% participating interest. Aker Energy’s partners are LUKOIL (38%), the Ghana National Petroleum Corp. (GNPC) (10%) and Fueltrade (2%).