Aker's Ghana project secures funding boost

Aker Energy’s planned Deepwater Tano/Cape Three Points development is benefitting from a regional initiative

The Africa Finance Corporation has invested $100mn in the Ghanaian subsidiary of Norway's Aker Group to help finance development of the country's Deepwater Tano Cape Three Points ( DWT/CTP) block. The AFC has agreed to invest the amount in Aker Energy in convertible bonds, as part of its plans to take on an early equity financier role in upstream assets on the continent. Aker has now said it plans to produce oil from the block's Pecan field initially. It completed appraisal drilling there in April. The reserve estimate for the first phase of the DWT/CTP development is 334mn boe, with subsequent phases on the block potentially adding a further 110-210mn boe, based on discovered contingent res