Offshore Cape Three Points (OCTP) is an integrated project for developing fields of oil and non-associated gas. It is the only non-associated gas development project that entirely dedicated to the domestic market in sub-Saharan Africa. We are an operator with 44.44% of the permit for OCTP, which is governed by a concession agreement. The block, which has reserves of about 40 billion m3 of non-associated gas and 500 million barrels of oil, is located about 60 kilometres off the coast of western Ghana. The Sankofa and Gye Nyame fields are developed through wells and systems on the seabed, and linked through pipelines to the floating production, storage and offloading (FPSO) unit John Agyekum Kufuor.
We began production in OCTP in May 2017, just two and a half years after the project was approved. Production began three months before the date in the development plan, with an excellent time-to-market. We also have a share of 42.47% in the offshore exploration licence Cape Three Points Block 4, where in 2019 we drilled the exploratory well Akoma - 1X, finding sizeable gas and associated condensate resources. This discovery presents more potential for oil and gas and will be subject to a campaign of drilling.
In 2019 development activity of the OCTP oil and gas project was completed. In 2020, 98% of Ghana’s thermal power was generated by gas, more than 50% of which came from the OCTP project.
The FPSO John Agyekum Kufuor:
OCTP production began in 2018, from two of the four deep water wells connected to the FPSO John Agyekum Kufuor floating production, storage and offloading unit. The facility has an oil processing capacity of 58 thousand barrels per day and a gas processing capacity of 5.93 million standard cubic metres per day, while a 63 km natural gas pipeline connects it to the coast.
[Ghana] Offshore Cape Three Point (OCTP) - FPSO John Agyekum Kufuor
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Re: [Ghana] Offshore Cape Three Point (OCTP)
Eni signs a Memorandum of Understanding for the development of gas discoveries in the Offshore Cape Three Points (OCTP) Block in Ghana
San Donato Milanese (Milan), 21 August 2012 – Eni, together with Vitol, signed a Memorandum of Understanding (MoU) with the Government of Ghana, represented by the Minister of Energy, and 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 OCTP Block is operated by Eni with a 47.222% stake, in partnership with Vitol (37.778%) and GNPC (15%).
The MoU sets out the key principles for future development of the discoveries and commercialization of the gas within the contract area. The MoU focuses particularly on the domestic gas market, in which Eni and its joint venture partners wish to play a prominent role.
The signing of this MoU is in line with Eni's growth strategy in the region and reaffirms the company’s leading position in exploiting indigenous gas resources and contributing to the socio-economic growth of the countries where it operates.
Eni has been present in Ghana since 2009 and currently operates the two exploration blocks of OCTP (Offshore Cape Three Points) and Offshore Keta.
Eni has been present in Sub Saharan Africa since the 1960's and is now operating exploration and production projects in Angola, Congo, Ghana, Gabon, Mozambique, Nigeria, Democratic Republic of Congo, Togo, Kenya and Liberia. With a rapidly growing successful exploration activity, Eni’s current operated production in the region is approximately 450,000 barrels of oil equivalent per day.
San Donato Milanese (Milan), 21 August 2012 – Eni, together with Vitol, signed a Memorandum of Understanding (MoU) with the Government of Ghana, represented by the Minister of Energy, and 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 OCTP Block is operated by Eni with a 47.222% stake, in partnership with Vitol (37.778%) and GNPC (15%).
The MoU sets out the key principles for future development of the discoveries and commercialization of the gas within the contract area. The MoU focuses particularly on the domestic gas market, in which Eni and its joint venture partners wish to play a prominent role.
The signing of this MoU is in line with Eni's growth strategy in the region and reaffirms the company’s leading position in exploiting indigenous gas resources and contributing to the socio-economic growth of the countries where it operates.
Eni has been present in Ghana since 2009 and currently operates the two exploration blocks of OCTP (Offshore Cape Three Points) and Offshore Keta.
Eni has been present in Sub Saharan Africa since the 1960's and is now operating exploration and production projects in Angola, Congo, Ghana, Gabon, Mozambique, Nigeria, Democratic Republic of Congo, Togo, Kenya and Liberia. With a rapidly growing successful exploration activity, Eni’s current operated production in the region is approximately 450,000 barrels of oil equivalent per day.
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escveritas
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Re: [Ghana] Offshore Cape Three Point (OCTP)
Eni signs a Memorandum of Understanding for the development of gas discoveries in the Offshore Cape Three Points (OCTP) Block in Ghana
San Donato Milanese (Milan), 20 September 2012 – Eni has made the first oil discovery in the Offshore Cape Three Points (OCTP) block, located in the Tano Basin offshore Ghana, about 50 km off the coast of Ghana. The discovery is relevant as it may have the potential for commercial development and confirms the importance of the block also in terms of the presence of oil, as well as natural gas and condensates.
Eni plans for the immediate drilling of other wells to delineate the size of the discovery and confirm the feasibility of commercial development.
The discovery was made through the Sankofa East-1X well, which reached a total depth of 3,650 meters, in 825 meters of water, and encountered 28 meters with gas and condensate and 76 meters of gross oil pay in Cretaceous sandstones. During the production test, carried out in the oil level, the well produced about 5,000 high quality barrels of oil per day. The flow rates, during the production test, were constrained by surface infrastructures.
In addition, there are ongoing engineering studies for the development and commercialization of gas reserves of the block in accordance with the principles sanctioned in the Memorandum of Understanding recently signed by Eni, Vitol and Ghana National Petroleum Corporation (GNPC) with the Minister of Energy of Ghana. The MoU focuses particularly on the domestic gas market, in which Eni and its joint venture partners wish to play a prominent role.
Eni, through its subsidiary Eni Ghana Exploration and Production Limited, is the operator of the OCTP block with a 47.222% share. Other partners are Vitol Upstream Ghana Limited, with a 37.778% share, and state company GNPC with a 15% share. GNPC has an option for an additional 5% share.
Eni has been operating in Ghana since 2009 and currently operates two exploration offshore blocks OCTP and Keta.
Eni has been present in Sub Saharan Africa since the 1960s and currently participates in exploration and production projects in Angola, Congo, Ghana, Gabon, Mozambique, Nigeria, Democratic Republic of Congo, Togo, Kenya and Liberia. With a rapid successful growth in exploration activity, Eni's current operated production in the region is approximately 450,000 barrels of oil equivalent per day.
San Donato Milanese (Milan), 20 September 2012 – Eni has made the first oil discovery in the Offshore Cape Three Points (OCTP) block, located in the Tano Basin offshore Ghana, about 50 km off the coast of Ghana. The discovery is relevant as it may have the potential for commercial development and confirms the importance of the block also in terms of the presence of oil, as well as natural gas and condensates.
Eni plans for the immediate drilling of other wells to delineate the size of the discovery and confirm the feasibility of commercial development.
The discovery was made through the Sankofa East-1X well, which reached a total depth of 3,650 meters, in 825 meters of water, and encountered 28 meters with gas and condensate and 76 meters of gross oil pay in Cretaceous sandstones. During the production test, carried out in the oil level, the well produced about 5,000 high quality barrels of oil per day. The flow rates, during the production test, were constrained by surface infrastructures.
In addition, there are ongoing engineering studies for the development and commercialization of gas reserves of the block in accordance with the principles sanctioned in the Memorandum of Understanding recently signed by Eni, Vitol and Ghana National Petroleum Corporation (GNPC) with the Minister of Energy of Ghana. The MoU focuses particularly on the domestic gas market, in which Eni and its joint venture partners wish to play a prominent role.
Eni, through its subsidiary Eni Ghana Exploration and Production Limited, is the operator of the OCTP block with a 47.222% share. Other partners are Vitol Upstream Ghana Limited, with a 37.778% share, and state company GNPC with a 15% share. GNPC has an option for an additional 5% share.
Eni has been operating in Ghana since 2009 and currently operates two exploration offshore blocks OCTP and Keta.
Eni has been present in Sub Saharan Africa since the 1960s and currently participates in exploration and production projects in Angola, Congo, Ghana, Gabon, Mozambique, Nigeria, Democratic Republic of Congo, Togo, Kenya and Liberia. With a rapid successful growth in exploration activity, Eni's current operated production in the region is approximately 450,000 barrels of oil equivalent per day.
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Re: [Ghana] Offshore Cape Three Point (OCTP)
Eni successfully drilled first oil delineation well of the Sankofa East oil discovery in offshore Ghana
San Donato Milanese (Mi), 17 January 2013 - Eni successfully drilled Sankofa East 2A, the first appraisal well of the Sankofa East oil discovery in the Offshore Cape Three Points (OCTP) block, located in the Tano Basin offshore Ghana, around 50 km off the coast of Ghana. The result is important because it confirms the commercial standing of the oil discovery in the OTCP block and the strategic importance of the block for further industrial and economic development in the country.
Sankofa East 2A has been drilled 8 kilometers south west of the discovery well Sankofa East X1 and confirmed the extension of the oil accumulation in the Cenomanian sequence. Eni estimates the overall potential of the discovery to be around 450 million barrels of oil in place with recoverable resources of up to 150 million barrels. The data acquisition confirmed the hydraulic communication in the oil prone reservoir between the discovery and the appraisal well.
Sankofa East 2A well, which reached a total depth of 4,050 meters, was drilled in 990 meters of water. The well encountered 23 meters of gas and condensate gross pay (17 meters net), and 76 meters of gross oil pay (30° API, 32 meters net) in good sands of cretaceous age.
Eni has immediately commenced plans for the commercial exploitation of the oil reserves. There are also ongoing engineering studies for the development and commercialization of the gas reserves of the block in accordance with the principles sanctioned in the Memorandum of Understanding recently signed by Eni, Vitol and Ghana National Petroleum Corporation (GNPC) with the Ministry of Energy of Ghana. The MoU focuses particularly on the domestic gas market, in which Eni and its joint venture partners aim to play a prominent role.
Eni estimates overall recoverable resources in the OCTP block of approximately 450 million barrels of oil equivalent including gas, associated liquids and oil.
Eni, through its subsidiary Eni Ghana Exploration and Production Limited, is the operator of the OCTP block with a 47.222% share. Other partners are Vitol Upstream Ghana Limited, with a 37.778% share, and state company GNPC with a 15% share. GNPC has an option for an additional 5% share.
Eni has been operating in Ghana since 2009 and currently operates two exploration offshore blocks OCTP and Keta.
Eni has been present in Sub Saharan Africa since the 1960s and currently participates in exploration and production projects in Angola, Congo, Ghana, Gabon, Mozambique, Nigeria, Democratic Republic of Congo, Togo, Kenya and Liberia. With rapid successful growth in exploration activity, Eni's current operated production in the region is approximately 450,000 barrels of oil equivalent per day.
San Donato Milanese (Mi), 17 January 2013 - Eni successfully drilled Sankofa East 2A, the first appraisal well of the Sankofa East oil discovery in the Offshore Cape Three Points (OCTP) block, located in the Tano Basin offshore Ghana, around 50 km off the coast of Ghana. The result is important because it confirms the commercial standing of the oil discovery in the OTCP block and the strategic importance of the block for further industrial and economic development in the country.
Sankofa East 2A has been drilled 8 kilometers south west of the discovery well Sankofa East X1 and confirmed the extension of the oil accumulation in the Cenomanian sequence. Eni estimates the overall potential of the discovery to be around 450 million barrels of oil in place with recoverable resources of up to 150 million barrels. The data acquisition confirmed the hydraulic communication in the oil prone reservoir between the discovery and the appraisal well.
Sankofa East 2A well, which reached a total depth of 4,050 meters, was drilled in 990 meters of water. The well encountered 23 meters of gas and condensate gross pay (17 meters net), and 76 meters of gross oil pay (30° API, 32 meters net) in good sands of cretaceous age.
Eni has immediately commenced plans for the commercial exploitation of the oil reserves. There are also ongoing engineering studies for the development and commercialization of the gas reserves of the block in accordance with the principles sanctioned in the Memorandum of Understanding recently signed by Eni, Vitol and Ghana National Petroleum Corporation (GNPC) with the Ministry of Energy of Ghana. The MoU focuses particularly on the domestic gas market, in which Eni and its joint venture partners aim to play a prominent role.
Eni estimates overall recoverable resources in the OCTP block of approximately 450 million barrels of oil equivalent including gas, associated liquids and oil.
Eni, through its subsidiary Eni Ghana Exploration and Production Limited, is the operator of the OCTP block with a 47.222% share. Other partners are Vitol Upstream Ghana Limited, with a 37.778% share, and state company GNPC with a 15% share. GNPC has an option for an additional 5% share.
Eni has been operating in Ghana since 2009 and currently operates two exploration offshore blocks OCTP and Keta.
Eni has been present in Sub Saharan Africa since the 1960s and currently participates in exploration and production projects in Angola, Congo, Ghana, Gabon, Mozambique, Nigeria, Democratic Republic of Congo, Togo, Kenya and Liberia. With rapid successful growth in exploration activity, Eni's current operated production in the region is approximately 450,000 barrels of oil equivalent per day.
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Re: [Ghana] Offshore Cape Three Point (OCTP)
Eni sanctioned the OCTP project in Ghana
The Offshore Cape Three Point (OCTP) project will provide domestic gas supply to Ghana’s thermal power plants for more than 15 years
San Donato Milanese (Milan), 27 January 2015 – Eni, Vitol and Ghana National Petroleum Corporation (GNPC) signed today with the President of the Republic of Ghana, John Dramani Mahama, and the Minister of Petroleum, Emmanuel Armah-Kofi Buah, the agreement to proceed with the OCTP integrated oil & gas project in Ghana. First oil is expected in 2017, first gas in 2018 and the peak production will be 80,000 boed in 2019.
The OCTP integrated project is a deep offshore development located approximately 60 km from the Ghanaian Western Region’s coast. It comprises oil and non-associated gas fields and will access around 41 billion cubic meters (1.45 Tcf) of gas and 500 million barrels of oil in place.
The integrated nature of the oil and gas development provides an economically robust project allowing the Country to achieve a competitive gas price which will support its economy. Furthermore, the OCTP fields will continuously supply Ghana’s thermal power system, from 2018 to 2036. The supply will be secured thanks to long term contracts with the Government of Ghana. Beside, the Country will also benefit from additional oil production starting from 2017 through GNPC’s participation in the project and royalties and taxes generated by the production, together with employment and further development of local content.
The project will have a minimal environmental impact being designed for zero flaring and zero discharge. The non-associated gas will provide environmental benefits feeding both existing power plants, replacing light crude oil, and new power plants, expanding the power generation capacity of the Country.
“The OCTP development is a robust integrated oil and gas project that will provide the reliable energy source needed to accelerate the economic growth of Ghana by delivering a domestic solution to feed the power sector. The sanction of this significant project comes after less than 2 years from the completion of a successful exploration campaign. Once again, in the best tradition of Eni, we deliver fast-track organic growth addressing in a sustainable manner the energy requirements of the host country, in line with the Eni model in Africa‘, Eni’s CEO Claudio Descalzi said.
Eni, through its own subsidiary Eni Ghana, is block OCTP’s operator with a 47,22% stake. Other partners are Vitol with 37,77% and GNPC with 15%.
Eni has been operating in Ghana since 2009. In the Country it has also launched social programs, such as the Health Project in the Western Region for the benefit a population of more than 300,000 people.
Eni has been present in Sub-Saharan Africa since the ”60s and is currently involved in exploration and production projects in Angola, Congo, Ghana, Gabon, Mozambique, Nigeria, Kenya, Liberia and South Africa. Eni currently produces around 450,000 boed in Sub-Saharan Africa, thanks to successful and rapidly growing exploration activity.
The Offshore Cape Three Point (OCTP) project will provide domestic gas supply to Ghana’s thermal power plants for more than 15 years
San Donato Milanese (Milan), 27 January 2015 – Eni, Vitol and Ghana National Petroleum Corporation (GNPC) signed today with the President of the Republic of Ghana, John Dramani Mahama, and the Minister of Petroleum, Emmanuel Armah-Kofi Buah, the agreement to proceed with the OCTP integrated oil & gas project in Ghana. First oil is expected in 2017, first gas in 2018 and the peak production will be 80,000 boed in 2019.
The OCTP integrated project is a deep offshore development located approximately 60 km from the Ghanaian Western Region’s coast. It comprises oil and non-associated gas fields and will access around 41 billion cubic meters (1.45 Tcf) of gas and 500 million barrels of oil in place.
The integrated nature of the oil and gas development provides an economically robust project allowing the Country to achieve a competitive gas price which will support its economy. Furthermore, the OCTP fields will continuously supply Ghana’s thermal power system, from 2018 to 2036. The supply will be secured thanks to long term contracts with the Government of Ghana. Beside, the Country will also benefit from additional oil production starting from 2017 through GNPC’s participation in the project and royalties and taxes generated by the production, together with employment and further development of local content.
The project will have a minimal environmental impact being designed for zero flaring and zero discharge. The non-associated gas will provide environmental benefits feeding both existing power plants, replacing light crude oil, and new power plants, expanding the power generation capacity of the Country.
“The OCTP development is a robust integrated oil and gas project that will provide the reliable energy source needed to accelerate the economic growth of Ghana by delivering a domestic solution to feed the power sector. The sanction of this significant project comes after less than 2 years from the completion of a successful exploration campaign. Once again, in the best tradition of Eni, we deliver fast-track organic growth addressing in a sustainable manner the energy requirements of the host country, in line with the Eni model in Africa‘, Eni’s CEO Claudio Descalzi said.
Eni, through its own subsidiary Eni Ghana, is block OCTP’s operator with a 47,22% stake. Other partners are Vitol with 37,77% and GNPC with 15%.
Eni has been operating in Ghana since 2009. In the Country it has also launched social programs, such as the Health Project in the Western Region for the benefit a population of more than 300,000 people.
Eni has been present in Sub-Saharan Africa since the ”60s and is currently involved in exploration and production projects in Angola, Congo, Ghana, Gabon, Mozambique, Nigeria, Kenya, Liberia and South Africa. Eni currently produces around 450,000 boed in Sub-Saharan Africa, thanks to successful and rapidly growing exploration activity.
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escveritas
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Re: [Ghana] Offshore Cape Three Point (OCTP)
Eni: John Agyekum Kufuor FPSO vessel ready to set sail to Offshore Cape Three Points, Ghana
San Donato Milanese (MI), 3 February 2017 - Eni announces that the naming ceremony of the “John Agyekum Kufuor” floating production, storage and offloading (FPSO) vessel was held today in Singapore. The FPSO shall operate in Sankofa-Gye Nyame field in the Tano Basin, in Ghana’s offshore, for the Offshore Cape Three Points (OCTP) project.
The vessel, named after Ghana’s Former President Kufuor, who was present at the naming ceremony along with Ghana’s First Lady Mrs. Rebecca Akufo-Addo, is expected to arrive in Ghana by April 2017.
The FPSO has an oil treatment capacity of 58,000 barrels per day (bbls/d) and a gas treatment capacity of up to 210 million standard cubic feet per day (mmscf/d). Additional facilities include a water injection module of up to 55,000 bbls/d and gas injection facilities of up to 150 mmscf/d. A total number of 18 subsea wells will be connected to the FPSO meanwhile a 63km pipeline to shore will provide domestic gas supply to Ghana’s thermal power plants for more than 15 years, a significant contribution for the country’s energy needs and economic development.
Eni is the OCTP block’s operator with a 44.44% stake. The other partners are Vitol with 35.56% and GNPC with 20%.
Eni has been present in Ghana since 2009, where it operates through its subsidiary Eni Ghana. Besides the OCTP license, Eni operates the Cape Three Points Block 4 exploration license.
San Donato Milanese (MI), 3 February 2017 - Eni announces that the naming ceremony of the “John Agyekum Kufuor” floating production, storage and offloading (FPSO) vessel was held today in Singapore. The FPSO shall operate in Sankofa-Gye Nyame field in the Tano Basin, in Ghana’s offshore, for the Offshore Cape Three Points (OCTP) project.
The vessel, named after Ghana’s Former President Kufuor, who was present at the naming ceremony along with Ghana’s First Lady Mrs. Rebecca Akufo-Addo, is expected to arrive in Ghana by April 2017.
The FPSO has an oil treatment capacity of 58,000 barrels per day (bbls/d) and a gas treatment capacity of up to 210 million standard cubic feet per day (mmscf/d). Additional facilities include a water injection module of up to 55,000 bbls/d and gas injection facilities of up to 150 mmscf/d. A total number of 18 subsea wells will be connected to the FPSO meanwhile a 63km pipeline to shore will provide domestic gas supply to Ghana’s thermal power plants for more than 15 years, a significant contribution for the country’s energy needs and economic development.
Eni is the OCTP block’s operator with a 44.44% stake. The other partners are Vitol with 35.56% and GNPC with 20%.
Eni has been present in Ghana since 2009, where it operates through its subsidiary Eni Ghana. Besides the OCTP license, Eni operates the Cape Three Points Block 4 exploration license.
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escveritas
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Re: [Ghana] Offshore Cape Three Point (OCTP)
Eni starts production from the OCTP Integrated Oil&Gas Development Project, in Ghana's offshore, ahead of schedule and with a record time-to-market
San Donato Milanese (Milan), May 20, 2017 - Eni has launched production from the Integrated Oil&Gas Development Project, in the Offshore Cape Three Points (OCTP) block, off Ghana’s western coast, in just two and a half years, and three months ahead of schedule, reaching another record time-to-market.
The OCTP integrated oil & gas development is made up of the Sankofa Main, Sankofa East and Gye-Nyame fields, which are located about 60 kilometers off Ghana’s Western Region coast. The fields have about 770 million barrel of oil equivalent (mboe) in place, of which 500 million barrels of oil and 270 mboe of non-associated gas (about 40 billion cubic meters). The project includes the development of gas fields whose production will be utilized entirely by Ghana’s domestic market.
Production will be carried out via the “John Agyekum Kufuor” floating production, storage and offloading unit (FPSO), which will produce up to 85,000 barrels of oil equivalent per day (boepd) through 18 underwater wells. A 63-kilometer submarine pipeline will transport gas to Sanzule's Onshore Receiving Facilities (ORF), where it will be processed and transmitted to Ghana’s national grid, supplying approximately 180 million standard cubic feet per day (mmscfd).
"Starting production only two and a half years after the approval of the Development Plan – Eni CEO Claudio Descalzi said - is an extraordinary result and a reason for great pride. It certifies our exploration skills and knowledge, as well as our field development vision, and it confirms the effectiveness of our new operational model, where Eni has a central role in project management, aimed at improving time-to-market. This is a result we are especially proud of, because it fits perfectly into the joint development vision that we have for Africa: we grow when the countries that host us also grow. The launch of OCTP will provide gas to Ghana for over 15 years and the resulting electricity will give a real boost to the country’s development. All of this has only been possible thanks to the unwavering commitment of Ghanaian authorities and of our partners."
Eni is operator of the OCTP block with a 44.44% stake, while Vitol holds 35.56% and Ghana National Petroleum Corporation (GNPC) 20%.
Eni has been present in Ghana since 2009 through its subsidiary Eni Ghana, and with the startup of OCTP Integrated Oil&Gas Development Project the Company has become one of Ghana’s main operators. In 2016, Eni obtained a new exploration license, Cape Three Points Block 4, adjacent to the OCTP Block. If successful, synergies with OCTP will allow for a fast-tracked start-up. The drilling of the first exploration well is expected in 2018, in continuity with the drilling of Block OCTP wells. In addition, Eni Ghana is exploring development opportunities in the renewable energies sector. Eni Foundation also has an important social and health program in the Western Region, benefiting a population of over 300,000 people.
San Donato Milanese (Milan), May 20, 2017 - Eni has launched production from the Integrated Oil&Gas Development Project, in the Offshore Cape Three Points (OCTP) block, off Ghana’s western coast, in just two and a half years, and three months ahead of schedule, reaching another record time-to-market.
The OCTP integrated oil & gas development is made up of the Sankofa Main, Sankofa East and Gye-Nyame fields, which are located about 60 kilometers off Ghana’s Western Region coast. The fields have about 770 million barrel of oil equivalent (mboe) in place, of which 500 million barrels of oil and 270 mboe of non-associated gas (about 40 billion cubic meters). The project includes the development of gas fields whose production will be utilized entirely by Ghana’s domestic market.
Production will be carried out via the “John Agyekum Kufuor” floating production, storage and offloading unit (FPSO), which will produce up to 85,000 barrels of oil equivalent per day (boepd) through 18 underwater wells. A 63-kilometer submarine pipeline will transport gas to Sanzule's Onshore Receiving Facilities (ORF), where it will be processed and transmitted to Ghana’s national grid, supplying approximately 180 million standard cubic feet per day (mmscfd).
"Starting production only two and a half years after the approval of the Development Plan – Eni CEO Claudio Descalzi said - is an extraordinary result and a reason for great pride. It certifies our exploration skills and knowledge, as well as our field development vision, and it confirms the effectiveness of our new operational model, where Eni has a central role in project management, aimed at improving time-to-market. This is a result we are especially proud of, because it fits perfectly into the joint development vision that we have for Africa: we grow when the countries that host us also grow. The launch of OCTP will provide gas to Ghana for over 15 years and the resulting electricity will give a real boost to the country’s development. All of this has only been possible thanks to the unwavering commitment of Ghanaian authorities and of our partners."
Eni is operator of the OCTP block with a 44.44% stake, while Vitol holds 35.56% and Ghana National Petroleum Corporation (GNPC) 20%.
Eni has been present in Ghana since 2009 through its subsidiary Eni Ghana, and with the startup of OCTP Integrated Oil&Gas Development Project the Company has become one of Ghana’s main operators. In 2016, Eni obtained a new exploration license, Cape Three Points Block 4, adjacent to the OCTP Block. If successful, synergies with OCTP will allow for a fast-tracked start-up. The drilling of the first exploration well is expected in 2018, in continuity with the drilling of Block OCTP wells. In addition, Eni Ghana is exploring development opportunities in the renewable energies sector. Eni Foundation also has an important social and health program in the Western Region, benefiting a population of over 300,000 people.
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