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Ghana awards Eni new oil exploration and production license

Italian oil company, Eni announces that the Ghana government has awarded it a new exploration and production licence in the country’s offshore.

Eni announced in a press release copied to ghanabusinessnews.com, that the award comes as an outcome of Ghana’s first international competitive bid round, in which five Blocks have been put on offer in water depths ranging from 100 to 4,400m.

“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. The new block is located approximately 50km south-east from the FPSO John Agyekum Kufuor that is currently producing oil and gas from Sankofa Field. The proximity of these infrastructures will become synergic in case of new discoveries in Block 3,” the release said.

The Block WB03, is located in the medium deep waters of the prolific Tano Basin, offshore Ghana, Eni stated.

The company says it will be the Operator of the license, and besides Vitol the Joint Venture will include the Ghana National Petroleum Corporation (GNPC) and a local registered Company that will be identified during the phase of contract finalization.

“The Contract award is subject to approval from the Authorities,” it added.

Eni first came to Ghana in 2009, a year before commercial oil production started in the country.

By Emmanuel K. Dogbevi
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