Eni Lands New Ghana Acreage

Eni and partner Vitol have been awarded rights to Block WB03, in the medium deep waters of the prolific Tano Basin, offshore Ghana, the Italian energy company said July 3.

Eni will be the operator but other companies will join the duo, including the Ghana National Petroleum Corporation (GNPC) and a local registered company that will be identified during the phase of contract finalisation, which will be subject to regulatory approval. For the moment the equity is split 70-30 in favour of Eni.

The award follows Ghana’s first international competitive bid round for five blocks. 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 where it found gas and condensate in May. The new block is about 50km south-east of the John Agyekum Kufuor floating production, storage and offtake vessel that is producing oil and gas from Sankofa field. Eni said that the "proximity of these infrastructures will became synergic in case of new discoveries in Block 3."