Drilling Rig on the Ghana Shelf Is Waiting for an Investment Decision on the Project with LUKOIL
The final investment decision on the Pecan project offshore Ghana has not yet been accepted, but a floating drilling rig has already been brought to the site.
A floating drilling rig is ready to start work at the Pecan field offshore Ghana (LUKOIL is involved in the project), but the final investment decision (FID) has not yet been approved.
The drilling rig was bought from Ocean Yield (Norway) and is now in Sri Lanka. It previously drilled for Indian Reliance.
It was planned that the FID for the ultra-deep project in Ghana would be accepted before April 2024, and production would start before 2027. The Deepwater Tano/Cape Three Points block, in the middle of which the Pecan field is located at a depth of up to 2500 m, wanted to be developed in 2 stages, laying $3.5 billion for this. The “shelf“ of production is expected to reach 80 thousand barrels per day. At the same time, the reserves of the entire block are estimated at 550 million barrels, and only for Pecan — 268 million barrels.
LUKOIL entered the DWT/CTP block back in 2014. Through his Ghanaian structure, he owns a 38 percent stake. The project operator Pecan Energies owns 50%, local GNPC — 10%, Fueltrade Limited — another 2%. A total of 7 oil and gas fields have been discovered on the block.
