Edition:
India

Aker Energy makes additional oil discovery offshore Ghana


Monday, 4 Mar 2019 

March 4 (Reuters) - Aker ASA ::AKER ASA: AKER ENERGY ANNOUNCES SUCCESSFUL DRILLING RESULTS OFFSHORE GHANA.AKER ENERGY, AS OPERATOR OF DEEPWATER TANO CAPE THREE POINTS (DWT/CTP) BLOCK, ANNOUNCES THAT IT ENCOUNTERED OIL IN PECAN SOUTH-1A WELL OFFSHORE GHANA. A SIDETRACK WILL NOW BE DRILLED TO FURTHER APPRAISE VOLUME POTENTIAL.VOLUMES WILL BE AN ADDITION TO GROSS CONTINGENT RESOURCES (2C) FROM EXISTING DISCOVERIES IN AREA, PREVIOUSLY ESTIMATED TO 450 - 550 MMBOE.AKER ENERGY IS IN PROCESS OF ANALYZING WELL RESULT AND WILL COMMENCE FURTHER DRILLING IN ORDER TO VERIFY VOLUME ESTIMATE.ESTIMATES THAT TOTAL VOLUMES TO BE INCLUDED IN A PLAN OF DEVELOPMENT (POD) HAVE POTENTIAL TO INCREASE TO BETWEEN 600 - 1,000 MMBOE.AKER ENERGY SEES FURTHER UPSIDES IN AREA. COMPANY HAS IDENTIFIED MULTIPLE WELL TARGETS TO BE DRILLED AS PART OF A GREATER AREA DEVELOPMENT AFTER SUBMISSION OF POD.AKER ENERGY IS OPERATOR OF DWT/CTP BLOCK WITH A 50% PARTICIPATING INTEREST.AKER ENERGY'S PARTNERS ARE LUKOIL (38%), GHANA NATIONAL PETROLEUM CORPORATION (GNPC) (10%) AND FUELTRADE (2%).