%20for%20the%20project%20had%20been%20suspended,%20reportedly%20due%20to%20the%20strongCOVID-19/strong%20pandemic%20and%20falling%20oil%20prices.%20Although%20there%20is%20no%20confirmed%20date%20yet%20for%20the%20FID,%20the%20firm%20is%20already%20planning%20on%20how%20it%20will%20restart%20with%20a%20reviewed%20schedule.Instead%20of%20commencing%20the%20production%20of%20the%20field%20at%20once,%20the%20oil%20firm%20is%20considering%20developing%20it%20iteratively,%20starting%20with%20a%20floating%20production,%20storage%20and%20offloading%20unit%20(FPSO)%20in%20the%20south,%20and%20later%20adding%20another%20unit%20in%20the%20north%20in%20a%20few%20years.A%20a%20href=https://www.akerenergy.com/media-centre/news/2020/aker-energy-on-course-to-finding-a-solution-for-pecan-field-developmentstatement%20on%20the%20website/a%20reads:%20“While%20the%20original%20field%20development%20concept%20was%20based%20on%20a%20centralized%20FPSO%20supporting%20the%20development%20of%20the%20entire%20Pecan%20field,%20as%20well%20as%20tie-ins%20of%20all%20other%20area%20resources,%20the%20focus%20has%20shifted%20toward%20a%20phased%20development%20approach.%20This%20approach%20will%20enable%20strongAker%20Energy/strong%20to%20commence%20with%20one%20FPSO%20for%20Pecan%20in%20the%20south%20and%20expand%20to%20a%20second%20FPSO%20in%20the%20north%20after%20a%20few%20years,%20with%20tie-ins%20of%20additional%20discovered%20resources.%20The%20first%20FPSO%20will%20be%20deployed%20at%20around%20115%20kilometres%20offshore%20strongGhana/strong%20over%20a%20subsea%20production%20system%20installed%20in%20ultra-deep%20waters%20in%20depths%20ranging%20from%202,400%20to%202,700%20metres.”The%20CEO%20of%20strongAker%20Energy/strong,%20Håvard%20Garseth,%20said,%20em“In%20a%20time%20when%20most%20other%20E&P%20companies%20are%20putting%20development%20projects%20on%20the%20shelf%20due%20to%20the%20COVID-19%20situation%20and%20historic%20low%20oil%20prices,%20Aker%20Energy%20and%20our%20partners,%20Lukoil,%20Fueltrade%20and%20GNPC,%20working%20closely%20with%20the%20government%20of%20Ghana,%20are%20actively%20pursuing%20a%20development%20concept%20where%20we%20can%20commence%20phase%20one%20of%20a%20phased%20development%20of%20the%20Pecan%20field.”/emReacting%20on%20the%20new%20development,%20Dr%20Mohammed%20Amin%20Adam,%20Deputy%20Minister%20of%20Energy%20Ghana,%20said,%20em“Getting%20projects%20like%20the%20Pecan%20field%20in%20operation%20is%20key%20toward%20our%20mission%20of%20making%20Ghana%20a%20major%20producer%20in%20West%20Africa%20and%20Africa%20as%20a%20whole.”/emAlso%20commenting%20on%20the%20project,%20Kadijah%20Amoah,%20County%20Director%20for%20the%20oil%20firm%20in%20Ghana,%20said,%20em“Along%20with%20our%20partners,%20we%20are%20optimistic%20that%20we%20will%20establish%20a%20workable%20concept%20so%20that%20we%20can%20finally%20see%20first%20oil%20in%20the%20fourth%20offshore%20field%20in%20Ghana.%20We%20remain%20committed%20to%20Ghana.”/emIf%20completed,%20Pecan%20may%20become%20the%20fourth%20oil%20producing%20field%20in%20Ghana%20after%20the%20Jubilee%20Oil%20Field,%20the%20Saltpond%20Oil%20Field,%20and%20the%20Tweneboa%20Enyerna%20Ntomme%20Oil%20Field.){kind=link}
Aker Energy, a subsidiary of Aker SA, which aims to be “Building the oil and gas operator of choice in offshore deep waters of Ghana,” has announced that it is working closely with its partners and the government of Ghana to revive plans to develop its deepwater Pecan oil discovery off Ghana.
In March, the firm announced that a Final Investment Decision (FID) for the project had been suspended, reportedly due to the COVID-19 pandemic and falling oil prices. Although there is no confirmed date yet for the FID, the firm is already planning on how it will restart with a reviewed schedule.
Instead of commencing the production of the field at once, the oil firm is considering developing it iteratively, starting with a floating production, storage and offloading unit (FPSO) in the south, and later adding another unit in the north in a few years.
A statement on the website reads: “While the original field development concept was based on a centralized FPSO supporting the development of the entire Pecan field, as well as tie-ins of all other area resources, the focus has shifted toward a phased development approach. This approach will enable Aker Energy to commence with one FPSO for Pecan in the south and expand to a second FPSO in the north after a few years, with tie-ins of additional discovered resources. The first FPSO will be deployed at around 115 kilometres offshore Ghana over a subsea production system installed in ultra-deep waters in depths ranging from 2,400 to 2,700 metres.”
The CEO of Aker Energy, Håvard Garseth, said, “In a time when most other E&P companies are putting development projects on the shelf due to the COVID-19 situation and historic low oil prices, Aker Energy and our partners, Lukoil, Fueltrade and GNPC, working closely with the government of Ghana, are actively pursuing a development concept where we can commence phase one of a phased development of the Pecan field.”
Reacting on the new development, Dr Mohammed Amin Adam, Deputy Minister of Energy Ghana, said, “Getting projects like the Pecan field in operation is key toward our mission of making Ghana a major producer in West Africa and Africa as a whole.”
Also commenting on the project, Kadijah Amoah, County Director for the oil firm in Ghana, said, “Along with our partners, we are optimistic that we will establish a workable concept so that we can finally see first oil in the fourth offshore field in Ghana. We remain committed to Ghana.”
If completed, Pecan may become the fourth oil producing field in Ghana after the Jubilee Oil Field, the Saltpond Oil Field, and the Tweneboa Enyerna Ntomme Oil Field.