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Aker Energy looking to sell 50% of Ghana deepwater prospect

Rig Lynx
  • By Rig Lynx
  • Jun 01, 2021
  • Category : Archives
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Aker Energy is looking to sell part of its 50% participating interest in the Deepwater Tano Cape Three Points (DWT/CTP) block in Ghana, which includes the Pecan development project. After being hit by the COVID-19 pandemic, the Norwegian operator has struggled to come up with funding for the Pecan development.

 

Aker Energy’s interest to fast track the development of the project led to the Ghanaian Government’s amendment of Petroleum Agreements concerning the DWT/CTP and the South Deep Water Tano. The amendment significantly reduced the state’s share of the partnership and snuffed out the involvement of GNPC Explorco, a company that was set up to build the operating capacity of the state hydrocarbon company Ghana National Petroleum Corporation (GNPC).

 

Aker Energy as far back as February 2020 entered a Letter of Intent with Yinson Holdings Berhad to award a bareboat charter and an operations and maintenance contract for a Floating, Production, Storage and Offloading (FPSO) vessel at the Pecan field, following a competitive tender. The plan was that the contracts would have a firm duration of ten years followed by five-yearly extension options exercisable by Aker Energy as the operator on behalf of the license partners. Once developed and installed, the FPSO will be located over and connect to the state-of-the-art subsea production system located at approximately 2,400 meters below sea level. Aker Energy’s other partners in the DWT/CTP block are Lukoil (38%), Fueltrade (2%) and Ghana National Petroleum Corporation (10%).

 

Source: Africa ECP

 

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