AFC Equity Investment to Buy Ghana-focused Aker Energy.

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Aker Energy, the owner of the Pecan oilfield off the coast of Ghana, will be purchased through a deal mediated by AFC Equity Investment from Aker Capital and the Resource Group TRG. The agreement makes Aker Energy’s sole shareholder AFC Equity Investment, which is owned by Africa Finance Corporation (AFC).

According to the agreement, the corporation would own a 50% interest in the Deepwater Tano Cape Three Points (DWT/CTP) block, located off the coast of Ghana and home to the Pecan field and discoveries estimated to be worth 450–550 million barrels of oil equivalent.Pecan was found in 2012 and has been put on hold for almost two years.

It is intended to develop the ultra-deepwater field in the Gulf of Guinea, off the coast of Ghana, in 2,667 m of water. It is anticipated that the project will cost roughly $2 billion and begin commercial production in 2025. Aker highlighted that the management of Aker Energy team of will remain unchanged after this deal and will look to submit the plan of development (PoD) for the Pecan field to Ghanaian authorities by the end of this month.

ACD.

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