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    Ghana’s Pecan offshore oilfield struggles to take off as Norwegian firm Aker Energy faces regulatory hurdles and loss of job opportunities

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    Ghana Staff Writer
    Ghana Staff Writerhttps://www.africanboulevard.com
    The African Boulevard Africain Editorial Team brings you Ghana news and breaking news headlines in Politics, Economy, Business, Investment and Entertainment. We are unbiased, moved only by the quest for truth.
    Read Time:2 Minute, 15 Second

    Accra, Ghana – (African Boulevard News) – Ghana’s Pecan offshore oilfield is one of the most promising discoveries in the oil and gas industry in recent years. Situated in the Gulf of Guinea, the field holds billions of barrels of crude oil and natural gas, and has attracted the interest of many international investors. One of the most notable potential investors is Kjell Inge Rokke, a Norwegian billionaire and owner of the oilfield’s operator, Aker Energy.

    Despite Rokke’s enthusiasm and the potential of the field, the development of Pecan has been hindered by numerous challenges, the most prominent being the government’s apparent reluctance to grant Aker Energy a license to operate the field. According to Africa Intelligence, Aker Energy is facing difficulties in securing the necessary approvals from the Ghanaian authorities, despite having invested significant resources into the development of the field. Aker has already invested more than $4.5 billion in the project, and the delay is costing them hundreds of thousands of dollars every day.

    The Ghanaian government has indicated that it wants to renegotiate the terms of the permit for the field, and there are hints that the government may seek to extract greater financial benefits from the field. While the government’s position is understandable, it has left Aker Energy in a difficult predicament, with Rokke expressing his frustration with the slow progress.

    “There is no doubt that the delay in the approval process for the Pecan development has been frustrating for us,” Rokke said. “We are committed to working with the government of Ghana to find a mutually beneficial resolution to the issues that are holding up the development of the field.”

    This delay has had a ripple effect on the industry, with analysts projecting that the lack of progress in developing Pecan could have a significant impact on the country’s economy. The delay could also lead to the loss of thousands of job opportunities for Ghanaian citizens.

    Despite the challenges, Aker Energy remains optimistic about the future of the project. The company is committed to working with the Ghanaian government to find a solution that benefits both parties. However, the delay has once again highlighted the challenges of doing business in Ghana’s oil and gas industry.

    In conclusion, the delays on the development of Ghana’s Pecan offshore oilfield has left one of Norway’s richest men, Kjell Inge Rokke, frustrated. The impasse may be due to Accra’s apparently negative stance towards granting approval to the oilfield operator, Aker Energy. The delay, however, is costing Aker Energy hundreds of thousands of dollars and could lead to the loss of thousands of job opportunities for Ghanaians. Despite the challenges, Aker Energy remains committed to the project and the country.

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    Ghana Staff Writer

    The African Boulevard Africain Editorial Team brings you Ghana news and breaking news headlines in Politics, Economy, Business, Investment and Entertainment. We are unbiased, moved only by the quest for truth.
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