JOHANNESBURG – Norwegian oil exploration company, Aker Energy has announced the discovery of what appears to be the biggest oil find in Ghana’s history to date off the western coast.

The discovery occurred in the oil-rich Deepwater Tano area which has already given rise to Ghana’s three oilfields already in production – the Jubilee, TEN, and Sankofa Gyename fields - Ghana Web reported on Monday. The positive news will serve as a major boost to the country’s economy at the beginning of 2019.

The oil and gas operator said exploratory drilling indicated an “estimated 450-550 million barrels of oil equivalent (mmboe)” in the Pecan field, 166 kilometres off Takoradi.

"The reserves already identified easily eclipse the finds behind the three existing oilfields. Jubilee has reserves of 370 million barrels, TEN has 240 million barrels and Sankofa has 204 million barrels. This means that the new find could conceivably have reserves that exceed the estimated reserves of the three existing fields put together,” said Ghana Web.

African News Agency (ANA)