Revised Pecan project offshore Ghana could feature two FPSOs

June 5, 2020
Developers say they remain committed to the project.

Offshore staff

ACCRA Aker Energy Ghana and its partners remain committed to developing the deepwater Pecan field offshore Ghana, the company said.

In March Aker Energy cancelled a letter of intent with Yinson Holdings to supply and operate an FPSO for the project (awarded in late February) due to the sudden turmoil in global markets, adding that a final investment decision for the development had been postponed.

However, CEO Håvard Garseth said the partners, which include Lukoil, Fueltrade and GNPC, are now working with Ghana’s government to devise a phased concept “with a breakeven price that is sustainable and resilient also in a low oil price environment.” 

The original plan was based on a centralized FPSO supporting development of the entire Pecan field, as well as tie-ins of all other resources in the area.

Now the focus has shifted toward a phased approach with one FPSO for Pecan in the south connected to a subsea production system in 2,400-2,700 m (7,874-8,858 ft) water depth.

This could be supplemented by a second FPSO in the north a few years later, with tie-ins of additional discovered resources.

Switching to a re-deployed FPSO for phase 1 should also bring down capex and the breakeven cost, improving prospects of a positive investment decision. Currently the partners are assessing several FPSOs for re-use, and will make their selection based on technical capabilities and cost.