Aker ASA expects Ghanaian authorities to approve a revised $4.4 billion development plan for the offshore Pecan oil field by the end of third-quarter 2019, the Norwegian investment firm’s CEO told Reuters on May 10.
The company had previously said it expected the plan to be approved in the summer of 2019.
“We still expect the production to start 35 months after the plan’s approval. We are working to see how can we get the costs down, but today we maintain the same budget,” Aker CEO Oeyvind Eriksen said.
The Pecan field will be run by Aker’s subsidiary Aker Energy, which submitted its original development plan on March 28.
Aker, controlled by Norwegian billionaire Kjell Inge Roekke, has said it wants to make Aker Energy a leading E&P company on the Ghanaian Continental Shelf.
In addition, Aker also plans to invest in Ghana’s oil service industry, Eriksen said.
Roekke wants companies in Aker’s portfolio, Aker BP and Aker Energy, to produce a total of one million barrels of oil per day by 2025, he announced earlier this year.
Separately, Eriksen also said Aker Solutions, Norway’s largest oil services companies, will expand its oilfield maintenance and modification business, as well as renewable energy, in particular within offshore wind installations.
Recommended Reading
Quantum Capital’s View on AI: Lots of Benefits, Pain Points
2024-05-16 - The energy industry is lagging in the race to implement AI, but Sebastian Gass, CTO of Quantum Capital Group, offered a few solutions during Hart Energy’s 2024 SUPER DUG Conference & Expo.
Aramco Credits Adaptability, Collaboration for Driving Innovation
2024-05-15 - Aramco’s implementation of different approaches has led to the creation and commercialization of newer products, said Max Deffenbaugh, principal scientist for Aramco, at the 2024 Offshore Technology Conference in Houston.
OTC: E&Ps Improving Operational Safety with Digitization
2024-05-13 - Artificial intelligence and the digitization of the oilfield have allowed for several improvements in keeping operators out of harm’s way, panelists said during the 2024 Offshore Technology Conference.
Exclusive: Cost-effective Benefits of Extracting from Mature Assets
2024-05-13 - Baker Hughes' well abandonment leader Bart Joppe details the importance of extracting resources from mature assets and the company's approach to managing a well, in this Hart Energy Exclusive interview.
TGS Starts Up Multiclient Wind, Metaocean North Sea Campaign
2024-05-07 - TGS is utilizing two laser imaging and ranging buoys to receive detailed wind measurements and metaocean data, with the goal of supporting decision-making in wind lease rounds in the German Bright.