Accra: Eni Ghana and Vitol Upstream Tano Limited have signed two Memoranda of Understanding (MoUs) with the Government to finalize petroleum agreements for two offshore blocks, GH WB 3 and GH WB 8, located in Ghana's Tano Basin.
According to Ghana News Agency, the MoUs were signed by Dr John Jinapor, Minister for Energy and Green Transition, with the presence of executives from the Ghana National Petroleum Corporation (GNPC). These agreements cover approximately 2,100 square kilometers, with water depths ranging from 750 to 2,800 meters.
A statement from Eni Ghana highlights that these opportunities align with Eni's Infrastructure-Led Exploration strategy, which utilizes existing infrastructure and the proximity to established producing areas to explore the potential of prospective areas. This step follows a Memorandum of Intent signed last year, emphasizing Eni's long-term commitment to responsible investment and exploration in Ghana's upstream petroleum sector.
The agreements also aim to support the effective management and development of Ghana's petroleum resources in line with the country's legal and regulatory framework. Eni has been active in Ghana since 2009 in offshore hydrocarbon exploration and production, currently producing about 40,000 barrels of oil equivalent per day.
Eni operates the OCTP project with a 44.4 percent share, in partnership with Vitol holding 35.6 percent, and the Ghana National Petroleum Corporation with 20 percent. The joint venture also includes initiatives focused on training, economic diversification, and access to water, sanitation, and energy.