Floating Oil Production System Ready for Operation Offshore Ghana in Project Involving LUKOIL
The floating production, storage and offloading unit (FPSO) acquired for the development of the Pecan field offshore Ghana is ready for operation, although the final investment decision (FID) has not yet been made, Africa Oil+Gas Report (AOGR) reports.
According to the publication, the FPSO, acquired from Norway’s Ocean Yield, is currently in Sri Lanka. Previously, the complex worked for Reliance in India.
Intecsea, a subsidiary of Worley Parsons specializing in floating oil production units and offshore pipelines, is also expected to participate in the work.
The FID was expected to be announced by the end of March 2024, with production to begin in 2026-2027.
In July 2023, Ghana approved a development plan for the Deepwater Tano/Cape Three Points (DWT/CTP) offshore block, which contains the Pecan field. According to this document, the field is to be developed in two stages. Peak production could reach 80,000 barrels per day. Total capital investment is estimated at $3.5 billion. The field’s reserves are estimated at 268 million barrels, and the entire DWT/CTP contract block is estimated at 550 million barrels.
Pecan, located at a depth of 2,400 to 2,700 meters approximately 115 km off the coast of Ghana, is one of the deepest water fields in the world.
The African Finance Corporation (AFC) became the new owner of Pecan Energies (formerly Aker Energies), which is the operator of the project, in April 2023.
LUKOIL entered the DWT/CTP project on the shelf in West Africa in March 2014. Lukoil Overseas Ghana Tano Limited owns 38% of the contract block, Ghana National Petroleum Corporation (GNPC) – 10%, Fueltrade Limited – 2%. The Tano block, with an area of just over 2 thousand square kilometers, is located in the western part of Ghana’s waters in the Gulf of Guinea, near the coast of Cameroon, 80 km from the shore. The sea depth within the block varies from 1.6 thousand to 3 thousand meters. Seven fields were discovered here: five oil and two gas fields.
