The FPSO contract is for the Pecan development project in the Deepwater Tano/Cape Three Points (DWT/CTP) block, offshore Ghana


Illustration of the Pecan development project in the DWT/CTP block offshore Ghana. (Credit: Aker Energy)

Aker Energy Ghana, a subsidiary of Norwegian oil exploration and production firm Aker Energy, has signed letter of intent (LOI) with Malaysia-based Yinson for charter, operations and maintenance of floating, production, storage and offloading (FPSO) in the Pecan field, offshore Ghana.

Located in ultra-deep waters, ranging from 2,400m to 2,700m deep, the Pecan development project is located in the Deepwater Tano/Cape Three Points (DWT/CTP) block about 115km offshore Ghana.

The Pecan field, which will have a plateau production of approximately 110,000 barrels of oil per day, is planned to produce through Yinson’s FPSO.

Aker and Yinson will now proceed to conclude the contracts

Aker and Yinson will now proceed to conclude the contracts, which will be for a firm period of 10 years with options for 5 yearly extensions for Aker Energy.

Yinson group CEO Lim Chern Yuan said: “This is Yinson’s second large project award in the last 6 months, and we are gearing up for even greater growth ahead.

“In line with this, we have been building our resources, capacity and expertise; putting us in a strong position to meet our commitments to the projects that we have undertaken.”

Aker Energy is the operator of the block under the DWT/CTP Petroleum Agreement with 50% stake, while Lukoil Overseas Ghana Tano has 38% interest. Other partners include Ghana National Petroleum Corporation with a 10% stake and Fueltrade with a 2% interest.

At the Pecan field, the FPSO will be connected to the subsea production system located at approximately 2,400m below sea level.

Aker Energy Ghana country director Kadijah Amoah said: “Once in operation, the project will bring significant revenues to the country as well as direct and indirect job opportunities for indigenous companies and individuals.”

Recently, Aker Energy awarded a contract to Fugro for geotechnical and geophysical survey services in relation to the Pecan field.