Eni signs a Memorandum of Understanding for the development of gas discoveries in the Offshore Cape Three Points Block in Ghana

abarrelfullabarrelfull wrote on 21 Aug 2012 09:32
Tags: africa eni ghana upstream

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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.

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