Page 12 - AfrOil Week 22 2021

AfrOil PROJECTS & COMPANIES AfrOil

Pecan is believed to contain 450-550 boe in recoverable reserves (Image: Aker Energy)

Amoah was referring to Aker’s recent announce- potential new partners.
ment that it intended to develop Pecan in sepa- Equity in the project is currently split
rate phases rather than installing two floating between Aker Energy, the operator, with 50%;
production, storage and off-loading (FPSO) Lukoil (Russia), with 38%; state-owned Ghana
units. National Petroleum Corp. (GNPC), with 10%,
The company took this step in a bid to reduce and Fueltrade (Ghana), with 2%.
costs, after the Ghanaian government rejected Pecan is believed to contain 450-550mn
its first FDP as too costly. barrels of oil equivalent (boe) in recoverable
Aker Energy Ghana has also indicated that reserves. Aker Energy Ghana intends to develop
it may seek a partner through a farm-in deal in the oilfield on a stand-alone basis, without
order to cut its own outlays on the Pecan pro- focusing on hydrocarbon reserves in other sec-
ject. As of press time, it had not identified any tions of the DWP/CTP block. ™

ExxonMobil reportedly planning

to exit DW/CTP offshore project

GHANA US-BASED ExxonMobil has reportedly decided conducted in Ghana’s offshore zone.)
to exit the Deepwater Cape Three Points (DW/ The news agency’s sources also said that Exx-
CTP) project offshore Ghana. onMobil’s partners would now have to search for
According to Bloomberg, ExxonMobil a new operator for the project. The US giant had
announced its intentions in a recent letter to held an 80% equity stake in DW/CTP, with the
the Ghanaian government. The news agency remaining equity split between Ghana National
reported that it had seen a copy of the letter, in Petroleum Corp. (GNPC), with 15%, and Ghana
which the US super-major declared that it was Oil’s GOIL Offshore subsidiary, with 5%.
giving up its majority stake in and operatorship ExxonMobil won the right to negotiate an
of DW/CTP after fulfilling its contractual obli- exploration contract for the block in 2018 and
gations during the initial exploration period of finalised an agreement with GNPC and GOIL
the project. Offshore the following year.
As of press time, ExxonMobil had not con- According to the US company’s website, that
firmed the report or commented on its plans in agreement covers a 1,482-square km licence
Ghana. Bloomberg said, though, that sources area located in waters ranging from 1,550 metres
familiar with the matter had also spoken about to 2,850 metres deep.
the US giant’s plans to quit DW/CTP. DW/CTP is 92 km from the Ghanaian coast
According to those sources, ExxonMobil and is adjacent to the Deepwater Tano/Cape
made this decision after processing around Three Points (DWT/CTP) block operated by
2,200 square km of 3D seismic data collected Norway’s Aker Energy, as well as the Offshore
from the block and without drilling any explo- Cape Three Points (OCTP) and Offshore Cape
ration wells there. (The company had licensed Three Points South (OCTPS) blocks operated by
the data from a multi-client seismic survey Italy’s Eni. ™

P12 www. NEWSBASE .com Week 22 02•June•2021