Ghana, Eni reach agreement on gas development

22 August 2012, Sweetcrude, ACCRA- ITALIAN company, Eni has signed an agreement with the Ghanaian government for the development of gas discoveries in an offshore block being operated by the company.

It will work with partners, Vitol to develop the Offshore Cape Three Points, OCTP, block.
The memorandum of understanding focuses on the commercialisation of gas from the block for the domestic gas market.

Eni is operator of the block with a 47.22% share while oil trader Vitol holds 37.78% and local player Ghana National Petroleum Company, GNPC, the remaining 15%.

In July last year Eni struck gas at the Gye Nyame 1 well on the block after drilling to 3,349 metres.

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