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Government grants extension to Aker Energy for PoD submission

This is the eight time that Aker Energy has sought an extension of the period within which to submit the organisation’s PoD

The government through the Energy Ministry has granted an extension to Aker Energy Ghana Limited for the submission of its Plan of Development (PoD).

The decision to grant an extension follows uncertainties about supplier commitments triggered by the war in Ukraine.

This is the eight time that Aker Energy has sought an extension of the period within which to submit the organisation’s PoD

The Ministry of Energy has, therefore, extended the period of the submission of the PoD for three months effective 30 June 2022.

The Government of Ghana, Aker Energy and its licenced partners have agreed to work together on resolving any issues to facilitate a timely submission of the PDO.

The Plan of Development is a legal requirement that details the Plan to develop an oil and gas field in an integrated way, in order to produce the hydrocarbon reserves optimally by considering the technical, economics and HSE aspects.

It is approved by the Energy Minister and forms the basis for an oil exploration firm to proceed with actual development of the field and ultimate production of first oil. Without a plan of development, an oil firm cannot proceed.

Aker Energy Ghana Ltd. – a subsidiary of Norwegian-based oil exploration and production firm Aker Energy AS – is an exploration and production company and operator of the Deepwater Tano Cape Three Points (DWT/CTP) block.

It holds a 50% participating interest in the licence and the partners: are Lukoil Overseas Ghana Tano Limited (38%), the Ghana National Petroleum Corporation (GNPC) (10%) and Fueltrade Limited (2%).

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