Eni Ghana and Vitol sign MoUs for two Tano Basin offshore blocks

Eni Ghana and Vitol Upstream Tano Limited have signed two Memoranda of Understanding (MoUs) with the Government to pave the way for the finalisation of petroleum agreements covering two offshore blocks, GH WB 3 and GH WB 8, in Ghana's Tano Basin.

Dr John Jinapor, Minister for Energy and Green Transition, signed the MoUs on behalf of the Government of Ghana, witnessed by executives from the Ghana National Petroleum Corporation (GNPC).

A statement issued by Eni Ghana and copied to the Ghana News Agency said the two blocks covered approximately 2,100 square kilometres, with water depths ranging from 750 to 2,800 metres.

It said the opportunities were consistent with Eni's near-field and Infrastructure-Led Exploration (ILX) strategy, leveraging existing infrastructure and proximity to established producing areas to unlock the potential of prospective areas.

The statement noted that the MoUs followed the signing of a Memorandum of Intent last year, marking a further step in Eni's long-term commitment to advancing responsible investment and exploration in Ghana's upstream petroleum sector.

It said the agreements would also support the effective management and development of the country's petroleum resources in accordance with Ghana's legal and regulatory framework.

“Eni has been present in Ghana since 2009 with offshore hydrocarbon exploration and production activities, with a present equity production of about 40,000 barrels of oil equivalent per day,” the statement said.

“The company is the operator of the OCTP project with a 44.4 per cent share in partnership with Vitol, 35.6 per cent, and Ghana National Petroleum Corporation, 20 per cent.

“The joint venture's portfolio of projects also includes initiatives in the areas of training, economic diversification, access to water and sanitation and access to energy,” it added

GNA