JTW: Ghana signs $7bn gas production deal

The government of Ghana on Tuesday signed a $7-billion deal with Italian oil giant ENI and Dutch-owned energy firm Vitol for the production of 180 million cubic feet of natural gas.

"It's been a long road from when exploration started to today, when we finally have the opportunity to sign the official agreement for the beginning of development of production of the offshore Cape Three Point project," Ghanaian President John Mahama said after the signing ceremony.

"We expect the gas will be able to produce an additional 1,100 megawatts of power for Ghana," he said. Mahama said that the field would likely produce natural gas for the next 15 to 20 years.
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