Erin Energy Discovers Oil Offshore Ghana | Independent Newspapers Limited
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Erin Energy Discovers Oil Offshore Ghana

Posted: Oct 6, 2015 at 12:16 am   /   by   /   comments (0)

Erin Energy Corporation has said that it has completed the resource volume assessment of the three previously discovered fields (Tano North, Tano West, and Tano South) in the Expanded Shallow Water Tano (ESWT) Block, located offshore Ghana.

The company said in its production update that the ESWT block is operated by its subsidiary company, Camac Energy Ghana Limited, noting that the total discovered in-place oil and gas volumes have been assessed at approximately 500 million barrels and 282 BCF respectively.

It also noted that a total of 14 wells have been drilled in the fields, and many of the wells were also flow tested with oil and gas produced to surface, adding that from the production tests oil production rates ranged between 600 and 2,047 barrels per day, with the API gravity of the produced oil ranging between 15 and 32 degrees, saying that a maximum gas rate of about 13 million cubic feet per day was also established.

The company said that the resource evaluation was conducted by a US independent resources evaluator and various development concepts were screened under multiple oil and gas price scenarios. It said efforts are continuing to further optimize the development in the current commodity price environment.

Erin Energy said it believes that this evaluation is an important step in determining the commerciality of the development of the West, North, and South Tano fields, and is currently working with the joint venture partners and relevant government entities on further optimization studies towards declaration of commerciality, which is expected within the next few months.

Chief Operating Officer of the company, Segun Omidele, said, “We are very encouraged by the results of the evaluation of resources and believe this asset holds significant potential for Erin Energy. We are continuing to work with our partners and the government of Ghana to be able to declare commerciality of field development. The commencement of commercial oil production from Ghana would provide significant value to our stakeholders.”

Erin Energy Corporation said it is an independent oil and gas exploration and production company focused on energy resources in sub-Saharan Africa, explaining that its asset portfolio consists of 9 licenses across 4 countries covering an area of 43,000 square kilometres (10 million acres), including current production and other exploration projects offshore Nigeria, as well as exploration licenses offshore Ghana, Kenya and The Gambia, and onshore Kenya.