Aker Energy has terminated its agreement with Yinson Holdings Berhad for the provision of a purpose-built Floating Production Storage and Offloading (FPSO) vessel to be connected to a subsea production system at 2,400 meters below sea level as a result of the Covid-19 pandemic.
The contract termination was revealed by the Select Committee on Energy and Mines in its reports on the 2021 draft annual budget estimates of the Ministry to Parliament.
According to the Committees’ Reports, Aker Energy postponed the development of the Deepwater Pecan Oilfield located Offshore Ghana in April, 2020 following the outbreak of Covid-19 pandemic and subsequent fall in oil prices.
Yinson was awarded the contract to charter, operate and maintain a floating, production, storage and offloading (FPSO) vessel for the Pecan field development project in the Deepwater Tano/Cape Three Points (DWT/CTP) block, offshore Ghana.
The FPSO was Yinson’s second vessel to be operated in Ghanaian waters, with the first being FPSO John Agyekum Kufuor which is presently being operated for Italian oil major, ENI, in the Offshore Cape Three Points Block.
