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AGM relinquishes South Deep Water Tano (SDWT) block

Aker Energy FPSO

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AGM Petroleum Ghana Limited (AGM) and its owners have decided to relinquish the South Deep Water Tano (SDWT) block after carefully considering all options, a statement from the company has said.

According to the statement, AGM has carried out substantial activity in Ghana and contributed through drilling two ultra deepwater wells including the Nyankom discovery, and matured the subsurface understanding to the benefit of the Ghanaian authorities and other industry players.

“AGM is an independent company and the decision has no implication for Aker Energy’s plans in Ghana,” the statement added.

Read the full statement below:

Meanwhile, the field operator of the Pecan development project in Ghana’s Deepwater Tano Cape Three Points block, Aker Energy may lose its interest in the field if it fails to submit its Plan of Development (PoD) by 15 April 2023, sources at the Energy Ministry have told Asaase Radio.

Aker Energy postponed submitting a Plan of Development for the offshore Pecan field citing among others the possibility of its Russian partner Lukoil attracting sanctions as a result of Russia’s attack on Ukraine.

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