Eni, Vitol sign MoUs for 2 offshore blocks
Eni Ghana and its partner, Vitol Upstream Tano Ltd (Vitol), have signed two Memoranda of Understanding (MoUs) with the Government covering two offshore blocks in Ghana’s Tano Basin.
The agreements cover the GH WB three and GH WB eight blocks and pave the way for the finalisation of the Petroleum Agreements.
The Minister of Energy and Green Transition, Mr John Jinapor, signed the MoUs on behalf of the Government at a ceremony witnessed by executives of the Ghana National Petroleum Corporation (GNPC).
The two blocks cover approximately 2,100 square kilometres, with water depths ranging from 750 to 2,800 metres.
The opportunities are in line with Eni’s near-field and Infrastructure-Led Exploration (ILX) strategy, which seeks to leverage existing infrastructure and proximity to established producing areas to unlock the potential of prospective fields.
The signing follows a Memorandum of Intent signed by the parties last year and represents another step in Eni’s long-term commitment to investment and exploration in Ghana’s upstream petroleum sector.
Eni said the latest agreements also demonstrated its commitment to supporting the responsible management and development of Ghana’s petroleum resources in accordance with the country’s legal and regulatory framework.
The Italian energy company has been operating in Ghana since 2009, undertaking offshore hydrocarbon exploration and production activities.
It currently has equity production of about 40,000 barrels of oil equivalent per day and is the operator of the Offshore Cape Three Points (OCTP) project, with a 44.4 per cent share.
Vitol holds a 35.6 per cent interest, while GNPC holds the remaining 20 per cent.
The joint venture’s portfolio also includes initiatives focused on training, economic diversification, access to water and sanitation, and access to energy.
BY TIMES REPORTER
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