Aker Energy, operator of the long-stalled Greater Pecan oil project offshore Ghana, has a new owner that is intent on reviving the challenging deep-water development which initially had a price tag of about $2 billion.

Greater Pecan has been on hold for about two years while Aker Energy worked out how to finance a project hit by Covid and political issues, all while state-owned Ghana National Petroleum Corporation (GNPC) wanted to buy a stake in the asset for $1.3 billion.