Norwegian oil company Aker Energy announced Thursday that it has struck oil offshore Ghana with a resource volume potential of up to 1 billion barrels of oil equivalent, according to a company statement.
The company, which is the operator of the Deepwater Tano Cape Three Points block, said it is about to complete successful drilling of the main discovery to date at the Pecan-4A appraisal well located 166 kilometers southwest of Takoradi out of a total of seven discoveries.
The firm said existing discoveries are estimated to contain resources of 450-550 million barrels of oil equivalent (mmboe), but this could increase to between 600-1,000 mmboe with the drilling of the next two appraisal wells.
CEO Jan Arve Haugan said in a statement the firm would need to access the size of the first phase and plan for phased development adding, "our most important priority going forward is to deliver a robust field development plan to the Ghanaian authorities."
"Aker Energy sees great potential in this promising area offshore Ghana. We see the foundation for a phased development producing through several production units," he added.
While Aker Energy has a 50 percent participating interest in the Deepwater Tano Cape Three Points block, Russia's Lukoil has a 38 percent interest, while Ghana National Petroleum Corporation has a 10 percent stake and Ghana's Fueltrade holds a 2 percent interest.
By Ovunc Kutlu