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Dual-listed oil and gas explorer Erin Energy Corporation has estimated that the tenements that make up the expanded shallow water Tano (ESWT) block, in Ghana, would deliver about 500-million barrels of oil and 282-billion cubic feet of gas.
The company recently completed resource volume assessments at three of its previously discovered fields – Tano North, Tano West and Tano South.
The ESWT block was operated by subsidiary company Camac Energy Ghana.
Fourteen wells were drilled in the fields and many of the wells were also flow tested with oil and gas produced to surface.
From the production tests, oil production rates ranged between 600 bbl/d and 2 047 bbl/d, with the American Petroleum Institute gravity of the produced oil ranging between 15˚ and 32˚.
A maximum gas rate of about 13-million cubic feet a day was also established.
Erin Energy further reported that it would not continue to optimise the development in the current commodity price environment.
“This evaluation is an important step in determining the commerciality of the development of the West, North and South Tano fields,” the company said, adding that it was working with its joint venture partners and relevant government entities on further optimisation studies towards declaration of commerciality, which was expected within the next few months.
“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,” COO Segun Omidele said.