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Italian Eni signs MoU to develop, commercialise offshore gas in Ghana for domestic market

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Italian oil company, Eni together with Swiss-based Vitol, have signed a Memorandum of Understanding (MoU) with the Government of Ghana to develop and commercialise the country’s discovered gas resources offshore.

In a statement today August 21, 2012, Eni said the pact was signed with Ghana’s Energy Minister and the Ghana National Petroleum Corporation (GNPC) for the “development and commercialization of discovered gas resources in the Offshore Cape Three Points (OCTP) Block located in the Tano Basin of Ghana.”

The MoU focuses particularly on the domestic gas market in which Eni said together with its joint venture partners “wish to play a prominent role”.

It also set out the key principles for future development of the discoveries and commercialization of the gas within the contract area.

The OCTP Block is operated by Eni with a 47.222% stake, in partnership with Vitol (37.778%) and the GNPC (15%).

Eni entered Ghana’s oil industry in 2009 and currently operates the two exploration blocks of OCTP (Offshore Cape Three Points) and Offshore Keta.

By Ekow Quandzie

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