The Minister for Energy, Dr Matthew Opoku Prempeh has indicated the Ministry’s commitment to good investor relations.
This, he noted, is in response to the government’s efforts to prudently use hydrocarbon resources for the benefit of Ghanaians and future generations.
He said this when a delegation from Aker Energy Ghana Limited submitted the Development Plan of the company in respect of their Pecan Field prospects in Accra on Friday.
Dr Prempeh stated that the government is dedicated to creating an enabling environment for investment confidence in the upstream petroleum industry, built on a strong legal and regulatory framework to guarantee that Ghana reaps the full advantages of this vital resource.
He stated that the country will see large increases in oil production as Aker Energy, the operator of the Deepwater Tano/Cape Three Points block offshore, moves to develop the asset.
The Chief Executive of Aker Energy, Mr Kadijah Amoah, said that it is a comprehensive plan of development that will form the basis for sustainable and efficient development of the Pecan field.
The Plan outlines the overall strategy for resource development and production under the DWT/CTP contract. The Pecan field, the largest of numerous finds in the contract area, will be developed as a definite phase-one in the staged development plan.
The main Pecan Field will be developed with a Floating Production Storage and Offloading (FPSO) vessel and a subsea production system (SPS) in ultra-deep waters ranging from 2,400 to 2,700 meters deep, approximately 115 kilometers offshore Ghana.
Aker Energy formerly stated that first oil will be produced in 2020, but has now altered the schedule to 2025. Since 2018, the firm has continuously postponed the submission of the PoD, creating concerns about its dependability and dedication to the growth of the Pecan sector.
The Development Plan is a legislative requirement that describes the plan to develop an oil and gas field in an integrated manner to maximize hydrocarbon reserves while taking into account technical, economic, health, safety, and environmental elements of the project.
Irene Wirekoaa Osei, ISD