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Aker Energy Reaffirms Commitment to Pecan Field Development

Aker Energy is actively pursuing a development concept with partners Lukoil, Fueltrade, and GNPC to begin phase 1 of the Pecan field development offshore Ghana.

Final investment decision (FID) on the project was placed on hold in March; no new date for FID has been set as the company works to establish feasibility of the project. 

“Although we have an altered timeline, we are on our way to finding a development concept with a breakeven price that is sustainable and resilient also in a low-oil price environment,” Aker Chief Executive Officer Håvard Garseth said.

Aker said a phased development of the Pecan field and the use of a redeployed floating production, storage, and offloading unit (FPSO) vessel will reduce capital expenditure and breakeven costs and increase its commercially feasibility, leading to the FID. FPSO candidates are being assessed for redeployment; final selection will be based on technical capabilities and cost.

A phased approach will also enable Aker to begin with one FPSO for the Pecan field in the South and expand to a second FPSO in the North after a few years, with tie-ins of additional discovered resources.

The first FPSO will be deployed at around 115 km offshore Ghana over a subsea production system installed in depths ranging from 2,400 to 2,700 m.

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