YINSON Holdings Bhd, through Yinson Production West Africa Ltd, Yinson Gazania Production Ltd and Yinson Gazania Operations Ltd, has entered into a Letter of Intent (LOI) with Aker Energy Ghana Ltd with the intent of awarding the contracts to charter, operate and maintain the floating, production, storage and offloading vessel (FPSO) for the Pecan development project in the Deepwater Tano/Cape Three Points block, offshore Ghana.
In a statement today (Feb 21), Yinson said the contracts will be for a firm period of 10 years followed by five yearly extension options exercisable by Aker Energy.
Aker Energy is the operator under the Deepwater Tano/Cape Three Points Petroleum Agreement with a 50% participating interest. Its partners are Lukoil Overseas Ghana Tano Ltd (38%), Ghana National Petroleum Corporation (10%) and Fueltrade Ltd (2%).
The Pecan field is located in ultra-deep waters, ranging from 2,400 to 2,700 metres deep, 115km offshore Ghana.
The field will produce through Yinson’s FPSO, which will be the centre for processing and exporting of crude oil from the field, with a plateau production of some 110,000 barrels of oil per day, said Yinson.
This FPSO will be Yinson’s second vessel to operate in Ghanaian waters, with the first being FPSO John Agyekum Kufuor, which has been operating for ENI in the Offshore Cape Three Points Block since 2017. – Feb 21, 2020, Bernama