Eni awarded a new exploration and production licence

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Eni (70%) and its partner Vitol (30%) have been awarded rights to Block WB03, located in the medium-deep waters of the prolific Tano Basin, offshore Ghana. This result allows Eni to further consolidate its presence in the country.

Eni will be the Operator of the licence, 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 finalisation. The contract award is subject to approval from the Authorities.

This award comes as an outcome of the first international competitive bid round, in which 5 Blocks have been put on offer in water depths ranging from 100 to 4,400m.

In the 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 of the FPSO John Agyekum Kufuor (JAK) that is currently producing oil and gas from Sankofa Field. The proximity of these infrastructure will become synergic with new discoveries in Block 3.

Ghana is among the key countries for Eni’s organic growth. The company has been present in the country since 2009, and currently accounts for a gross production of about 70,000 barrels of oil equivalent per day.

Source: thebftonline.com

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