Ghana-focused oil firm Aker Energy aims to approve a revised plan for developing the Pecan oilfield off Ghana by the end of this year, its parent company Aker ASA said on Friday.
The company had previously estimated the field's reserves at 334 million barrels of oil, before putting on hold the final investment decision in March 2020 due to the fall in oil prices and the COVID-19 pandemic.
"The company is currently working to submit a revised Plan of Development (PDO) to the Ghanaian government by the end of 2021," Aker said in its quarterly report.
Aker Energy has managed to reduce the cost of the project by simplifying some of its technical aspects and opting for a staged development, Aker CEO Oeyvind Eriksen told Reuters.
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