Government is set to earn US$640 million as stake in Aker Energy’s operation in the country. This follows news that the Norwegian oil exploration company might just have discovered what appears to be the biggest oil find in the country’s history yet located in the oil rich Deepwater Tano area which already has Ghana’s three oilfields in production – the Jubilee, TEN, and Sankofa Gyename fields.
Analysis of the Pecan-4A well result and existing discoveries are estimated to contain gross contingent resources (2C) of 450 – 550 million barrels of oil equivalent in the Pecan field, 166 kilometres (100 miles) off Takoradi.
Aker Energy has a 50 percent participating interest in the DWT/CTP block with other partners – LUKOIL with 38 percent interest, while the national oil company – the Ghana National Petroleum Corporation (GNPC) represents Ghana’s interest with 10 percent and Fueltrade 2 percent.
In the wake of the news, Sekondi-Takoradi mayor; Anthony K.K Sam submitted his unit is equipping themselves to contain the increased numbers in the twin city following the latest discovery adding security has been beefed to ensure safety of those in the oil sector and on land.
He mentioned a private developer has stepped in to build more living quarters to contain the numbers in a Public–Private Partnership (PPPs) arrangement where the Finance Ministry and the State Housing Corporation are all onboard.