Skip to main content
GAPNEWS


Ghana’s oil resources to increase by 500 million barrels.


Ghana’s oil resources will increase by more than 500 million barrels of oil with the successful appraisal of wells, a release has said.
In a release issued on Thursday, partners in Ghana’s budding Deepwater Tano/Cape Three Points(DWT/CTP) Pecan field announced the well results, which they said had confirmed their understanding of the area, as well as the resource base and upside potential in the block offshore Ghana’s western coast.
“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 of 450-550 million barrels of oil equivalent (mmboe),” the release from the Norwegian exploration firm Aker Energy (Aker) stated.

The release said Aker would optimize the Plan of Development for the Pecan field with a lot more work needing attention. “Our most important priority going forward is to deliver a robust field development plan to the Ghanaian authorities,” Jan Arve Haugen, Chief Executive Officer(CEO) of Aker, stated.
“Multiple government agencies including the Ghana National Petroleum Corporation (GNPC), Petroleum Commission and the Ministries of Energy and Finance have worked closely with the DWT/CTP partners to achieve this positive result,” Minister for Energy John Peter Amewu commented.
He pledged Ghana’s continued support and collaboration for Aker to work hard and deliver First Oil as quickly as possible.
The partners expect production to start in 2020

Comments

Post a Comment

Popular posts from this blog

Happily, the two directors who caused PBC woes lost their bid to be NPP parliamentary candidates – Mahama

GAPNEWS Happily, the two directors who caused PBC woes lost their bid to be NPP parliamentary candidates – Mahama Former President John Dramani Mahama has said that the directors of the Produce Buying Company (PBC) will be investigated for their actions that caused the problems of the company. Mr Mahama accused the two directors of attempting to seek refuge in Parliament from accountability, but God being so good, they lost their bid to be parliamentary candidates on the ticket of the New Patriotic Party (NPP). Speaking with cocoa farmers in Kumasi and the General Agriculture Workers Union on Thursday, February 8, the flagbearer of the National Democratic Congress (NDC) said, “The workers of PBC have not been paid for about 8 months to 9 months and it is not known when they will receive their salaries, it is instructive to note that two of the directors who have left PBC into the ditch could see that they had finished the company and so they were looking for new careers and so they wen
Post a Comment
Read more
GAPNEWS The need for Ghana to prepared for future uncertainty that could affect the economy. Ghana is endowed with gold and oil palms and situated between the trans-Saharan trade routes and the African coastline visited by successive European traders, the area known today as Ghana has been involved in all phases of Africa's economic development during the last forty five years.  In 1981 a military government under the leadership of Flight Lieutenant Jerry John Rawlings came to power. Calling itself the Provisional National Defence Council (PNDC), the Rawlings regime initially blamed the nation's economic problems on the corruption of previous governments. Rawlings soon discovered, however, that Ghana's problems were the result of forces more complicated than economic abuse. Following a severe drought in 1983 (fire out break), the government accepted stringent International Monetary Fund (IMF) and World Bank loan conditions and instituted the Economic Recovery Program
Post a Comment
Read more

Finance Minister Amin Adam outlines seven priority points in his first meeting with mg’t of MoF

GAPNEWS Finance Minister Amin Adam outlines seven priority points in his first meeting with mg’t of MoF The Minister for Finance, Dr. Mohammed Amin Adam has outlined seven priority points in his first meeting with the Management of the Ministry. He met the entire management on Monday February 19 I will bring new urgency to bear on the work so we can run and fly and make an impact within this short period” he said. Dr Amin succeeded Ken Ofori-Atta at the Ministry in the recent ministerial reshuffle done by President Akufo-Addo on Febraury 14. Earlier, he told journalists that “Revenue collection will be pursued aggressively. So you are going to see me moving around the revenue centres, the ports, the airport, and the market areas to encourage the staff of GRA to collect more revenue but also to institute a friendly approach to collecting revenue.”
Post a Comment
Read more