Eni SPA has been awarded an exploration license for the Cape Three Points Block 4 in the Tano basin offshore Ghana.
The Italian firm will serve as operator and hold 42.4691% interest in a joint venture also comprising Vitol Upstream Tano 33.9753%, Ghana National Petroleum Corp. 10%, Woodfields Upstream Ghana 9.5556%, and GNPC Exploration & Production Co. 4%.
The block covers 1,127 sq km in 100-1,200 m of water, partially surrounding the Offshore Cape Three Points (OCTP) block also operated by Eni (OGJ Online, Oct. 6, 2009). The firm notes that if exploration is successful, the block will benefit from OCTP project infrastructure currently under development.
The OCTP project involves the integration and synergic development of various oil and gas discoveries, namely Sankofa Main, Sankofa East, and Gye-Nyame. It envisages the development of subsea wells tied back to a floating production, storage, and offloading vessel that will be connected to shore via a gas transport line (OGJ Online, Jan. 28, 2015).
Oil production from OCTP is expected to start up in 2017 while the startup of gas production, which will supply the domestic market for electric power generation, is expected in 2018.
Eni, operating through subsidiary Eni Ghana, has been present in Ghana since 2009.