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Ghana continues to progress as an emerging oil producer in Africa, aiming to increase oil production volumes in the coming years.
Ghana continues to progress as an emerging oil producer in Africa, aiming to increase oil production volumes in the coming years.
Aker Energy ASA has confirmed the existence of an important offshore resource base in Ghana and is committed to intensifying new developments in the Deepwater Tano Cape Three Points Block (DWT / CT).
A government delegation, led by Finance Minister Ken Ofori-Atta, told investors in Oslo, Norway, on Wednesday that Ghana's overall crude oil production is expected to more than double in the next four years, as a result of this evolution.
Creative exploitation
Addressing the meeting of 20 key international companies, Mr Ofori-Atta said that Ghana had strongly reaffirmed it as a key destination for petrochemical industry players.
Aker Energy ASA announced last week the biggest oil discovery in Africa, from 450 to 550 million barrels, with potential recoverable reserves of nearly one billion barrels.
"Overall, crude oil production is expected to rise from 196,089 barrels per day in 2019 to 420,020 barrels per day in 2023," Ofori-Atta said, according to a statement from the Ministry of Finance.
The finance minister said the government's vision is to create an optimistic, confident and prosperous country by creatively harnessing human and natural resources.
He added that Ghana would operate in a democratic, open and just society in which mutual trust and economic opportunities exist for all.
According to Deputy Minister of Energy Mohammed Amin Adams, Ghana's crude oil production is expected to reach half a million barrels by 2024.
Tema Drydock Shipyard
The delegation, which included the Minister of Transport, Kwaku Ofori Asiamah, had extensive discussions with Aker and other related entities.
Discussions also highlighted the development projects of the Tema Drydock shipyard. This is in line with President Akufo-Addo's vision to ensure that Ghana develops shipbuilding capacity and floating storage, unloading and unloading (FPSO) capacity.
The Government of Ghana is the sole shareholder of PSC Tema Shipyard Company, which operates the Tema Shipyard.
Kjell Inge Rokke, Aker's majority shareholder, is a conglomerate of offshore drilling and drilling vessels which has announced its commitment to significantly contribute to the President's vision of making Ghana a major world center for construction and ship repair.
Mbadive resource potential
Between 2012 and 2016, Hess, an oil and gas company, tried unsuccessfully to evaluate the Pecan field (now with Aker as an operator) and agreed to an agreement with the government from Ghana on a feasible development plan for the discovery. Hess's initial badessment indicated resources of 230 million barrels of oil equivalent.
In 2017, following discussions with the Ghana National Petroleum Corporation, Aker announced the acquisition of Hess's interest in the DWT / CT license.
Aker and his partner, working closely with the Petroleum Commission and the GNPC, immediately began preparations for a large-scale drilling program, with Pecan 4A being the first of three planned wells.
Based on existing underground data from seismic and drilled wells, including an badysis of the Pecan-4A well results, it is estimated that existing discoveries contain gross contingent (2C) resources of 450 to 550 million barrels. Oil equivalent (Mbep). Aker Energy estimates that with the next two targets, the total volume potential is 600 to 1000 Mbep.
10 billion dollars of investment
In order to fully develop the DWT / CT, the partners will have to make significant investments in Ghana, with total investment estimates of over $ 10 billion.
The Ghanaian delegation in Oslo includes Deputy Finance Minister Charles Adu Boahen, Oil Commission CEO Egbert Faibille and Ghana Gas CEO Ben Asante.
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