Russia’s Lukoil is in talks with Indian companies to sell its stake in the Pecan oil field off Ghana, which could help to break an impasse in submitting development plans for the field, sources familiar with the matter said, according to Reuters.
Lukoil is talking directly to potential buyers as investment bankers are not getting involved due to Western sanctions on Russia, one of the sources said.
Norway’s Aker Energy owns 50% of the deepwater block off Ghana where the Pecan field is located, while Lukoil holds 38%, Ghana National Petroleum Corp. has 10%, and Fueltrade has 2%.
According to information on the Aker Energy web site, the Pecan oil field is located in the Deepwater Tano Cape Three Points block, offshore Ghana. The Pecan field was discovered by Hess in 2012. Appraisals and drill-stem tests showed promising results and a light, under-saturated oil with favourable oil characteristics suited for waterflood. Seven successful exploration wells and eight appraisal wells on the block has proved a significant resource base as well as offering a high upside.
