Aker Energy finds oil offshore Ghana

Aker Energy found oil off the shore of Ghana at the Deepwater Tano Cape Three Points block located southwest of the country, the Norwegian oil company announced in a statement on Monday.

The company said the Pecan South-1A well was drilled at the south of the block and encountered oil. It is in the process of analyzing the well result and will continue drilling in order to verify the estimated volume of resources.

These volumes will be an addition to the previously found discoveries that were estimated at between 450 and 550 million barrels of oil equivalent (boe), according to the statement.

Based on the results of Pecan South and Pecan South East, the total estimated volumes have the potential to increase to between 600 million and 1 billion boe, it added.

'The discovered resources from the well will further strengthen the robustness of the Pecan field development,' CEO Jan Arve Haugan said in the statement.

'We will now continue the appraisal drilling campaign, while finalizing the Plan of Development to be submitted by the end of March,' he added.

Aker Energy announced on Jan. 10 that it successfully completed drilling of the main discovery at the Pecan-4A appraisal well, stating that it could hold a resource volume of up to 1 billion boe.

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.