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Aker Energy eyes IPO after submitting Ghana field plan in March 2019

Gasoil News - Published on Mon, 18 Feb 2019

Image Source: ET EnergyWorld
Reuters reported that Norwegian firm Aker plans to invite other investors to take stakes in its Ghana-focused oil exploration firm Aker Energy this year with an initial public offering or other transaction. The transaction is planned to take place after Aker Energy submits a development plan for the deepwater Pecan field off Ghana in March, following a recent appraisal well that confirmed contingent resources of 450-550 million barrels of oil equivalent.

Aker Chief Executive Mr Oeyvind Eriksen told an earnings presentation, Aker Energy planned to drill another two wells in February, expected to prove between 150 and 550 mmboe in additional resources. The preliminary results should be used to update the total potential before the plan's submission.

Meanwhile, Aker Energy will remain focused on developing resources in Ghana, expected to help Aker's aim to reach its total oil production target of producing over 1 million barrels of oil equivalents per day by 2025.

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Posted By : Rabi Wangkhem on Mon, 18 Feb 2019
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