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.