US exploration company Erin Energy has revealed the latest volume estimate from its offshore Ghana is approximately 500 million barrels of oil.
Erin said the resource volume assessment of the three previously discovered fields (Tano North, Tano West, and Tano South) has revealed the total discovered in-place oil and gas volumes have been assessed at approximately 500 million barrels and 282 BCF respectively.
The Expanded Shallow Water Block (ESWT), operated by Erin’s subsidiary Camac, has had 14 wells drilled. Many of the wells were also flow tested with oil and gas produced to surface. Oil production tests ranged between 600 and 2,047 barrels per day. A maximum gas rate of about 13 million cubic feet per day was also established.
The resource evaluation was conducted by a US independent resources evaluator and various development concepts were screened under multiple oil and gas price scenarios.
The company believes this evaluation is an important step in determining the commerciality of the development of the West, North, and South Tano fields, and is currently working with the joint venture partners and relevant government entities on further optimisation studies. Erin said it hoped to confirm its commercial potential in coming months.
Erin was awarded the ESWT block and named operator with 30% working interest in 2014.
“We are very encouraged by the results of the evaluation of resources and believe this asset holds significant potential for Erin Energy,” said Segun Omidele, Chief Operating Officer.
“We are continuing to work with our partners and the government of Ghana to be able to declare commerciality of field development.”