What we do

At Pecan Energies, we are differentiated by our Ultra Deep Water expertise. Our strong ESG credentials, project and financial know-how, as well as the relationships that AFC holds with its African member states sets us apart.

We are for Africa – building the Ghanaian operator of choice in oil and gas exploration, and production. We do this in a more fundamental way – where principles such as Sustainability, Localisation, Empowerment and Giving Back are not just upheld but essential to our approach.

AFC is a multilateral financial institution, created by African sovereign states to provide pragmatic solutions to Africa’s infrastructure deficit and challenging operating environment.

It actively pursues these solutions by developing and financing infrastructure, natural resources and industrial assets for the enhanced productivity and economic growth of African states.

The mission of the AFC is to foster the economic growth and industrial development of African countries, while delivering a competitive return on investment to our shareholders.

Development Projects

Pecan Energies holds a 50% participating interest in the Deepwater Tano Cape Three Points block in Ghana, including the Pecan field development.

Other partners are Lukoil Overseas Ghana Tano Limited, (38%), Fueltrade Limited, (2%) and Ghana National Petroleum Corporation (10%). The Tano Basin offshore Ghana is a prolific petroleum region, and the DWT/CTP Block is centrally located within this basin.


The Pecan Field Development

In Pecan Energies, we see numerous opportunities in the DWT/CTP Block and are now starting with the development of the Pecan field. The development scheme is selected to adapt to a changing world and significant volatility in commodity prices.

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DWT/CTP block with discoveries

Regional Map of the Western Basin

Development philosophy

Pecan Energies, as the operator, is committed to deliver the Pecan project on time, with quality and within cost. We will do this by leveraging AFC’s superior knowhow in investing in African energy infrastructure combined with Pecan Energies in-house expertise and the technical backbone of selected vastly experienced contractors in the upstream oil and gas sector.

As an entrepreneurial and flexible organisation, we will ensure delivery of the most optimum and efficient development solutions for the development of the Pecan field, in close collaboration with stakeholders and highly experienced subcontractors. Efficiency will be delivered through a lean organisational structure working closely with selected subcontractors, and an effective use of technology, including qualified digitalisation solutions.

On 3rd July, 2023, Pecan Energies, announced the successful approval of the Plan of Development (PoD) for the DWT/CTP contract area by Ghanaian authorities.

The PoD presents an overall plan for the phased development and production of the resources in the DWT/CTP contract area. The phased development will begin with the Pecan field in two phases, Phase 1a and Phase 1b. The Pecan field is the largest of several discoveries in the contract area with 268 million barrels expected to be produced in Phase 1a+1b with a CAPEX of USD 3.5 billion. In total, it is estimated that all discoveries in the DWT/CTP contract area have a recoverable resource potential of 550 million barrels.

The Pecan field, situated in ultra-deep waters ranging from 2,400 to 2,700 meters about 115 kilometres offshore Ghana, will be developed with a Floating Production Storage and Offloading (FPSO) vessel and a subsea production system (SPS).

As the new owners of Pecan Energies, AFC, through its wholly owned subsidiary, AFC Equity Investment Ltd (AFCEI), are now working towards a Final Investment Decision (FID) following extensive engagement with all relevant stakeholders and partners.