AfrOil: New owner of DWT/CTP submits PoD after Norwegian company’s exit

Aker Energy, the operator of the offshore Deepwater Tano/Cape Three Points (DWT/CTP) block, presented a new plan of development (PoD) to Ghanaian authorities on April 14. The plan will guide the development of the Pecan oilfield, one of seven hydrocarbon-bearing structures within the block.

“The PoD presents an overall plan for a phased development and production of the resources in the DWT/CTP contract area. The phased development plan will start with the development of the Pecan field as a firm phase one, being the largest of several discoveries in the contract area,” Aker Energy said.

The company took this step almost immediately after being sold by its parent organisation, Aker ASA of Norway, to AFC Equity Investment, a subsidiary of Africa Finance Corp. (AFC), a multilateral development financial institution. AFC is now the sole owner of Aker Energy – and therefore the sole owner of Aker Energy’s 50% stake in DWT/CTP, which contains around 450mn-550mn barrels of oil equivalent (boe).