Uchenna Izundu
OGJ International Editor
LONDON, Oct. 6 -- Eni Ghana Exploration & Production Ltd. will operate the Offshore Cape Three Points (OCTP) and Offshore Cape Three Points South (OCTPS) exploration licenses in Ghana after acquiring a major interest from Vitol Upstream Ghana Ltd.
Eni will hold a 47.22% interest in both blocks while Vitol will take a 37.78% interest. State company Ghana National Petroleum Corp., meanwhile, will hold 15%. GNPC will have a back-in option for an additional 5% in OCTP and 10% in OCTPS.
The consortium this summer drilled the Sankofa-1 well on the OCTP block in 850 m of water. “The well encountered high-quality reservoir sands containing 36 m (net) of oil and gas. Both blocks lie in the prolific Tano-Cape Three Points oil basin, which has recently yielded some of the biggest offshore discoveries yet made in Africa,” said Eni. The Sankofa is a significant hydrocarbon discovery that is 35 km east of Jubilee field, which will start production next year.
This deal marks the reentry of Eni in Ghana where it was present until the 1970s.
Eni has been present in Sub-Saharan Africa since the early 1960s. Its operated production in the area is 450,000 boe/d.
Contact Uchenna Izundu at [email protected].
