EQS-News

Pecan Energies, operator of Deepwater Tano/Cape Three Points (DWT/CTP) block, completes rebranding, committing to unlock prosperity for Ghana and beyond

EQS-News: Pecan Energies / Key word(s): Miscellaneous Pecan Energies, operator of Deepwater Tano/Cape Three Points (DWT/CTP) block, completes rebranding, committing to unlock prosperity for Ghana and beyond 04.03.2024 / 05:00 GMT/BST The issuer is solely responsible for the content of this announcement. Pecan Energies (www.PecanEnergies.com), the operator of the Deepwater Tano/Cape Three Points (DWT/CTP) block offshore Ghana is thrilled to announce the successful completion of its rebranding journey.

 

The company has evolved with a new name, logo, and a revitalized brand identity to better reflect its commitment to building prosperity and enabling growth for African communities. Underlining this transformation is Pecan Energies' new tagline: "Unlocking Prosperity."

Africa Finance Corporation (AFC) acquired Pecan Energies in April 2023, laying the foundations for a new brand identity. AFC is a multilateral financial institution created by African sovereign states to provide pragmatic solutions to Africa’s infrastructure deficit and challenging operating environment. The acquisition was a demonstration of AFC’s commitment to ensure that Africa’s natural resources, including its vast oil and gas reserves, are developed sustainably while retaining value on the continent. Pecan Energies holds a 50 per cent stake in the DWT/CTP block offshore Ghana.

“Pecan Energies represents our ambition to become the Pan-African oil and gas operator of choice in offshore deep waters of Ghana. Our new brand is dedicated to value creation, one of our core values. This also includes an unwavering commitment to transparency in how we harness our commercial and technical expertise for developmental outcomes in Ghana and beyond,” said Eiliv Gjesdal, Chief Executive Offic r of Pecan Energies AS.

Pecan Energies is making good progress towards a Final Investment Decision (FID) following the successful approval of its Plan of Development (PoD) for the DWT/CTP contract area by Ghanaian authorities. Under its new ownership and identity, the goal is to realize the full social and economic impact potential of the entire DWT/CTP block. The block has discoveries of approximately 550 million barrels of recoverable oil equivalents, in addition to a significant exploration portfolio.