Shell Submits Formal Bid for Ghana’s Pecan Oil Field as Mahama Promises Energy Revolution
In a major development that could reshape Ghana’s energy landscape, global oil giant Shell has submitted a formal bid to participate in the development of Ghana’s lucrative Pecan Oil Field, President John Mahama announced today.
The proposal is currently under review by key stakeholders, with approval potentially triggering the next phase of development for the offshore field located in the Deepwater Tano/Cape Three Points block. During a meeting with the Public Interest and Accountability Committee (PIAC), President Mahama revealed the submission while outlining his administration’s ambitious energy agenda.
“This is a potential game changer,” Mahama declared, expressing optimism about the field’s capacity to significantly increase Ghana’s oil output within the next three to four years. The development comes as part of broader efforts to restore investor confidence in Ghana’s upstream sector, which had waned in recent years.
To assess project progress and strategic direction, President Mahama has also held separate discussions with African Finance Corporation and Lukoil, existing partners in the Pecan project. The initiatives are already yielding results, with Eni resuming full operations and expanding investments in the Sankofa oil fields.
The President emphasized that oil wealth must translate into tangible benefits for citizens through his Big Push initiative – a $10 billion development plan targeting roads, education, healthcare, and agriculture over five years. “We must ensure that every resource extracted from Ghanaian soil serves the people directly,” Mahama stated.
Source: angolanminingoilandgas.com
