Eni granted new exploration licence in Ghana

Eni granted new exploration licence in Ghana

Italian energy company Eni (BIT:ENI) announced yesterday that is has been granted a new exploration licence, the Cape Three Points Block 4, located in the Tano basin of offshore Ghana.

This venture plans to strengthen the company’s place in the Ghanaian offshore. The license is a joint venture between Eni Ghana, Vitol Upstream Tano, Ghana National Petroleum Corporation (GSE:GNPC), Woodfields Upstream Ghana, and GNPC Exploration and Production Company.

The block is in water depths of 100 to 1,200 metres covering an area of 1,127 square kilometres. If the exploration outcome is successful, the block will benefit from current project foundations under development.

The firm operates the OCTP venture, which includes the synergic and integration development of oil and gas discoveries (Sankofa Main, Sankofa East and Gye-Nyame). The project anticipates the expansion of subsea wells which will be linked to shore through a gas transport line.

The OCTP oil production project is expected in 2017 and the gas production is expected in 2018.