Italian multinational oil and gas company Eni and its partner Vitol, a Dutch energy and commodity trading company, have been awarded rights to Block WB03, located in the medium-deep waters of the prolific Tano Basin, offshore Ghana
This result enables Eni to further consolidate its presence in the country.
Eni (70 per cent) will be the license operator and, in addition to Vitol (30 per cent), the joint venture will include the Ghana National Petroleum Corporation (GNPC) and a local registered company that will be identified during the contract finalisation phase. Eni stated that the contract award is subject to approval from the authorities.
This award comes as a result of Ghana’s first international competitive bid round, in which five blocks were offered in water depths ranging from 100 to 4400 m.
In Ghana’s Tano Basin, Eni owns rights to the development areas of Sankofa and Gye Nyame as well as to the exploration and production area of CTP-Block 4.
The new block is located approximately 50 km south-east from FPSO John Agyekum Kufuor (JAK), which currently produces oil and gas from Sankofa Field. In the case of new discoveries in Block 3, the proximity of these infrastructures will become synergistic.
Ghana is among the vital countries for Eni’s organic growth. The company has been present in the country since 2009 and accounts currently a gross production of about 70,000 boepd.
